U.S. stock futures were swinging between gains and losses on Thursday after advancing on Wednesday. Futures of the major benchmark indices were mixed.
Turning to upcoming economic releases, market participants will evaluate the report on weekly unemployment claims scheduled for Thursday.
This will be followed by the publication of January’s producer price index data on Friday.
Meanwhile, the 10-year Treasury bond yielded 4.05%, and the two-year bond was at 3.47%. The CME Group’s FedWatch tool‘s projections show markets pricing a 98% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
| Index | Performance (+/-) |
| Dow Jones | -0.10% |
| S&P 500 | 0.01% |
| Nasdaq 100 | 0.01% |
| Russell 2000 | 0.23% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Thursday. The SPY was up 0.030% at $693.36, while the QQQ advanced 0.055% to $616.76.
Stocks In Focus
Nvidia
- Nvidia Corp. (NASDAQ:NVDA) was up 1.28% after reporting better-than-expected fourth-quarter financial results and issuing first-quarter sales guidance above estimates.
- Benzinga’s Edge Stock Rankings indicate that NVDA maintains a strong price trend over the short, medium, and long terms, with a weak value score.
Salesforce
- Salesforce Inc. (NYSE:CRM) dropped 3.94% despite upbeat earnings as its future estimates fell short of Wall Street’s estimates.
- Benzinga’s Edge Stock Rankings indicate that CRM maintains a weak price trend over the short, medium, and long terms, with a moderate growth score.
Trade Desk
- Trade Desk Inc. (NASDAQ:TTD) tumbled 16.69% as it issued disappointing first-quarter guidance. The company said it expects first-quarter revenue expected to be more than $678 million, compared to the $689.48 million analyst estimate.
- TTD maintains a weak price trend over the short, medium, and long terms, with a poor quality score, as per Benzinga’s Edge Stock Rankings.
Dell Technologies
- Dell Technologies Inc. (NYSE:DELL) was 0.38% lower as analysts expected it to post earnings of $3.53 per share on revenue of $31.75 billion, after the market’s close.
- Benzinga’s Edge Stock Rankings indicate that DELL maintains a strong price trend over the short and long terms but a weak trend in the medium term, with a moderate value score.
Driven Brands Holdings
- Driven Brands Holdings Inc. (NASDAQ:DRVN) fell 5.09% after the company called off its earnings release, citing material errors in its financial statements for fiscal years 2023 and 2024.
- Benzinga’s Edge Stock Rankings indicate that DRVN maintains a weak price trend over the long, medium, and short terms, with a poor quality score.
Cues From Last Session
Information technology and financial stocks closed the session higher on Wednesday, though most S&P 500 sectors ended negatively, with consumer staples, real estate, and industrials ending lower.
| Index | Performance (+/-) | Value |
| Dow Jones | 0.63% | 49,482.15 |
| S&P 500 | 0.81% | 6,946.13 |
| Nasdaq Composite | 1.26% | 23,152.08 |
| Russell 2000 | 0.41% | 2,663.33 |
Insights From Analysts
According to BlackRock‘s latest commentary, the firm remains overweight on U.S. equities, citing a “favorable macro backdrop” characterized by “continued Federal Reserve easing, broad economic optimism and less policy uncertainty.”
While markets are currently “laser-focused on the AI buildout,” BlackRock believes U.S. stocks are further supported by “strong corporate earnings” and resilient profit margins.
Regarding the broader economy, BlackRock anticipates “steady growth and inflation that could drift below 2%”. However, they remain cautious about long-term fiscal health, staying underweight on long-dated U.S. Treasuries. They note that “long-dated U.S. Treasuries no longer provide portfolio ballast” due to high debt-servicing costs and rising term premia.
On the policy front, BlackRock views recent trade developments as stable despite legal shifts. Following a Supreme Court ruling on emergency tariff powers, they noted that the “decision doesn’t change the administration’s focus on trade as central to its economic and strategic policy.”
Overall, BlackRock suggests that while AI remains a primary driver, investors should also monitor “mega forces” like geopolitical fragmentation, which are creating new return drivers beyond the technology sector.
Upcoming Economic Data
Here’s what investors will be keeping an eye on Thursday.
- Initial jobless claims for the week ending Feb. 21 will be released by 8:30 a.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session by 0.83% to hover around $64.88 per barrel.
Gold Spot US Dollar rose 0.33% to hover around $5,182.08 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.01% higher at the 97.7140 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 4.26% higher at $68,299.92 per coin, as per the last 24 hours.
Asian markets closed higher on Thursday, except Hong Kong’s Hang Seng and China’s CSI 300 indices. South Korea’s Kospi, Japan’s Nikkei 225, India’s Nifty 50, and Australia’s ASX 200 indices rose. European markets were also mixed in early trade.
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