Dow Jones Today: Stock Futures Point to Mixed Open After Three Days of Strong Gains

Stock futures are mixed Thursday morning as the market takes a breather from a rally that has pushed major indexes back near record high levels.

Futures tied to the Dow Jones Industrial Average were up 0.1% in recent trading, while those linked to the S&P 500 and Nasdaq fell 0.2% and 0.5%, respectively. The major indexes have posted solid gains for three consecutive session as investors respond to strong corporate earnings reports and steps taken by President Donald Trump in his first few days in office.

The earnings calendar is busy again today. Shares of GE Aerospace (GE) were up 8% in premarket trading after the company’s fourth-quarter results blew past analysts’ expectations. American Airlines (AAL) shares were down 7% after the carrier issued a disappointing outlook, while Union Pacific (UNP) rose 4% after reporting better-than-expected earnings.

Shares of some of the major technology companies that have powered the recent upswing were under pressure this morning. Oracle (ORCL) was down 2% after gaining 14% over the past two days on news that the software maker is teaming up with Microsoft-backed OpenAI and Japan’s SoftBank on a $500 billion project to build AI infrastructure. Chip designer Arm Holdings (ARM), a technical partner in the project, was down 4% after jumping 16% yesterday.

AI investor favorite Nvidia (NVDA) was down 2% before the bell after leading Dow gainers yesterday. Other mega-cap tech stocks were mixed, with Microsoft (MSFT) and Broadcom (AVGO) losing ground while Apple (AAPL), Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (META) and Tesla (TSLA) inched higher.

In other markets, bitcoin was at $101,500, down from around $104,000 late yesterday. The digital currency hit a record high above $109,000 on Monday ahead of Trump’s inauguration amid investor hopes that the new administration will adopt policies that support the crypto industry.

The yield on the 10-year Treasury, which is sensitive to expectations about where interest rates are headed, was at 4.64%, up from 4.60% late yesterday. Market participants will be keeping a close eye on weekly jobless claims data this morning as they seek information that could affect the Federal Reserve’s decision-making on interest rates.

Gold futures were down 0.8% at $,2750 an ounce, while crude oil futures rose slightly.