Dow Jones Today: Stock Futures Little Changed as Major Indexes Hover Near Record Highs; Airline Shares Surge After Strong Delta Earnings

Stock futures are holding steady Thursday morning as investors keep close tabs on developments related to tariffs.

Futures tied to the S&P 500 and the Nasdaq were near unchanged recently, while Dow Jones Industrial Average futures slipped 0.1%. The major indexes are coming off a winning session on Wednesday, when the Nasdaq Composite closed at a record high after AI chip giant Nvidia briefly hit a market capitalization of $4 trillion, becoming the first company ever to reach the milestone. The S&P 500 enters the day just 16 points away from a record closing level, while the Dow is about 1% away from its first new high since December.

Stocks got off to a sluggish start this week as concerns about tariffs revived after President Donald Trump sent letters to more than 20 countries informing them of tariff rates the U.S. plans to impose. Trump also extended the deadline for hefty “reciprocal” tariffs to be reimposed to Aug. 1, instead of this week, which alleviated the immediate concerns about the impact of the import levies but extended the uncertainty about where trade policy will land. Late Wednesday, Trump said Brazil faces a 50% tariff and announced that all copper imports would be taxed at 50%.

Airline stocks were the big movers in premarket trading Thursday after Delta (DAL) reported stronger-than-expected quarterly results and reinstated its full-year guidance. Delta shares were up 13%, while United (UAL) and American (AAL) each jumped about 10%.

Mega-cap technology stocks, which paced Wednesday’s rally, were mixed before the bell. Nvidia (NVDA) was up about 1%, putting it on pace to reclaim the $4 trillion market value level. Rival chip giant Broadcom (AVGO) and EV maker Tesla (TSLA) also tacked on about 1%, while Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Alphabet (GOOG) and Meta Platforms (META) were down slightly.

Bitcoin was at $110,800 recently, after hitting a record high of just over $112,000 on Wednesday afternoon, its first new high since late May.

The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was up fractionally at 97.58. The index has posted modest gains this week after hitting its lowest level since early 2022 last week.

The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loans, notably mortgages, was at 4.34%, unchanged from yesterday’s close.

Gold futures were up 0.2% at $3,330 an ounce, while West Texas Intermediate futures, the U.S. crude oil benchmark, slipped 1% to $67.70.