Market focus shifted toward tariff-related developments alongside upcoming U.S. economic data releases.
- U.S. index futures traded higher following Wednesday’s broad-based rebound on Wall Street.
- After-hours moves were driven by Rocket Lab, The Metals Company, GameStop, Venture Global, and Intel.
- Traders also looked ahead to key U.S. economic data releases scheduled later in the session.
U.S. stock futures were higher on Wednesday night after Wall Street posted its strongest session in nearly two months, helped by relief over easing U.S. tariff threats tied to Greenland.
As of 8:41 p.m. ET, Nasdaq 100 futures were up about 0.5%, while S&P 500 futures gained 0.3%. Dow futures added around 0.2%.
On Stocktwits, retail sentiment toward the SPDR S&P 500 ETF Trust (SPY) was ‘bearish’ amid ‘high’ message volume, while sentiment toward the Invesco QQQ Trust (QQQ) was ‘bearish’ amid ‘high’ message volume. Sentiment toward the SPDR Dow Jones Industrial Average ETF Trust (DIA) was ‘neutral’ amid ‘extremely high’ message volume.
Market Drivers
Markets steadied after U.S. President Donald Trump said a “framework for a future deal” on Greenland had been reached and confirmed that new tariffs on European allies scheduled for February would not be imposed.
The comments followed a sharp rebound on Wall Street. In the prior session, the Dow Jones Industrial Average rose 588.64 points, or 1.2%, while the S&P 500 and the Nasdaq Composite gained 1.2% each. The S&P 500 logged its best session in two months, reversing part of Tuesday’s selloff, which had marked the worst session for all three benchmarks since October.
Gary Black of The Future Fund LLC said on X that the “TACO” trade, short for “Trump Always Chickens Out,” has “proven a reliably winning one on Wall Street” for the past nine months. He said the tentative market recovery followed last April’s global tariff rollout and rollback, which encouraged investors to tune out more extreme White House threats while continuing to buy risk assets.
Trending Stocks To Watch
Rocket Lab (RKLB): Shares fell more than 4% after hours after the company said qualification testing of its Neutron Stage 1 tank resulted in a rupture during a hydrostatic pressure trial.
The Metals Company (TMC): Shares rose more than 9% after hours after the National Oceanic and Atmospheric Administration (NOAA) updated deep-sea mining regulations to allow a consolidated and faster permitting process, with the company saying it plans to submit an application under the new framework.
GameStop (GME): Shares gained more than 4% after hours after CEO Ryan Cohen disclosed open-market purchases of 500,000 shares, lifting his total purchases this week to 1 million shares and raising his stake to about 9.3%.
Venture Global (VG): Shares jumped nearly 15% after hours after the company said an international arbitration panel issued a final award in its dispute with Repsol LNG related to sales from the Calcasieu Pass project.
Intel (INTC): Shares rose more than 1% after hours ahead of the company’s fourth quarter earnings due Wednesday after RBC Capital said it expects a slight beat with an in-line outlook.
Broader Markets
In broader markets, yields on the benchmark 10-year U.S. Treasury note were steady in early Asian trading after falling five basis points to around 4.2% in the prior session, as bond-market volatility eased. A $13 billion auction of 20-year Treasuries drew solid demand.
Gold and silver fell sharply after Trump said the new tariffs on the European allies would not be imposed. Spot gold fell to around $4,794 an ounce, while silver dropped more than 1%.
“This is the most tradable and profitable market of all time,” The Kobeissi Letter said on X, referring to the fall in gold and silver prices.
Asian markets followed Wall Street higher, with stocks rising in Japan, South Korea, and Australia, putting the MSCI Asia-Pacific index on track to snap a three-day losing streak.
Among the catalysts for the day are U.S. jobless claims, a revised GDP reading, and delayed data on personal income, consumer spending, and inflation, including the PCE and core PCE measures.
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