Stock market today: Dow, S&P 500, Nasdaq futures slip with Supreme Court tariff hearing, Tesla meeting in focus
US stock futures stepped lower on Thursday as concerns over lofty tech valuations eased and a Supreme Court hearing fed optimism for a shift in President Trump’s aggressive tariff push.
Dow Jones Industrial Average futures (YM=F) slipped 0.2%, while those on the S&P 500 (ES=F) moved roughly 0.3% lower. Contracts on the tech-heavy Nasdaq 100 (NQ=F) fell 0.4% on the heels of Wednesday’s comeback for major US gauges, fueled by upbeat jobs data and a revival in tech stocks.
The market took note of skepticism from several Supreme Court justices on the legality of Trump’s sweeping trade tariffs. A ruling against the policy could roll back the duties, with enormous impact on international trade as well as domestic spend.
Investors will monitor Tesla’s (TSLA) shareholder meeting, scheduled to start at 4pm ET, CEO Elon Musk’s proposed trillion-dollar pay package is the highlight, but other key issues for the electric-vehicle maker are on the agenda. The outcome will be closely watched amid questions over whether the “Magnificent Seven” tech megacaps that include Tesla can continue to power this year’s rally in stocks.
The rebound in AI-linked names on Wednesday helped the broader market recover from early-week weakness that left all three major indexes on pace for weekly declines. That said, fears of a bubble have not fully abated, given signs show AI expenditure still at sky-high levels.
Earnings season rolls on, with results from WBD (WBD), Airbnb (ABNB), and Moderna (MRNA) the standouts on Thursday’s docket.
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