U.S. stock futures pointed to a higher open on Thursday, partially recovering from the sharp losses in the previous session, as upbeat bank earnings helped restore some investor confidence.
US stock futures swing higher
Futures tied to the Dow, S&P 500, and Nasdaq were up between 0.7% and 1%, signaling a positive start despite lingering concerns over trade tensions and economic uncertainty.
Leading the rebound, JPMorgan Chase reported record first-quarter revenues, sending its shares sharply higher in pre-market trading. BlackRock, Wells Fargo, and BNY Mellon also beat earnings expectations, fueling optimism in the financial sector. However, gains were uneven across the broader market. Bond yields remained elevated following a continued selloff, and other sectors—particularly those sensitive to trade and supply chains—underperformed amid growing fears of an economic slowdown.
Optimism tempered by US-China escalating trade tensions
The optimism was tempered by escalating trade tensions between the U.S. and China. Beijing raised tariffs on American goods to as high as 125%, in direct retaliation to President Trump’s decision a day earlier to increase U.S. levies to 145%. The White House has yet to clarify its stance on potential tariffs targeting base metals and chemicals, adding to market uncertainty.
Despite the volatility, the major indices are still on track to post solid weekly gains, having risen between 3% and 5% following Wednesday’s historic rally—Wall Street’s biggest one-day surge since the 2008 financial crisis.
