Stock market today: Dow, S&P 500, Nasdaq futures stall as Nvidia milestone, Trump tariffs vie for focus

Editor (Izuh C. Victory )


US stock futures traded broadly flat on Thursday, putting a Nvidia-fueled (NVDA) rally on pause as Wall Street weighed Delta's (DAL) upbeat earnings amid fresh tariff threats from President Trump.

Dow Jones Industrial Average futures (YM=F) inched down 0.1%, while S&P 500 futures (ES=F) were little changed. Contracts on the tech-heavy Nasdaq 100 (NQ=F) were also steady on the heels of a winning day for the major gauges.

CME - Delayed Quote•USD

E-Mini S&P 500 Sep 25 (ES=F)

6,300.75

-6.50

(-0.11%)

As of 8:50:52 AM EDT. Market Open.

ES=FNQ=FYM=F

Date7/10 6:15 AMClose6,298.50Open6,299.25High6,299.75Low6,297.75NQ=F23,032.50YM=F44,628.00

5D

Markets are regrouping after Trump's latest salvos on tariffs, which have done little to sap the ebullient mood that has pervaded for more than two months. After Wednesday's market close, Trump issued his most stringent threat yet, threatening Brazil with rates of 50% on its imports.

Before the bell, Delta (DAL) kicked off second-quarter earnings season with its report, in high focus after the airline pulled its guidance last quarter due to Trump's trade moves. Its profit and revenue narrowly beat Wall Street expectations, and its shares jumped 12%. At the same time, and carrier restored its earnings outlook, citing "greater clarity" as trade deals get done.

Market focus remains on potential trade pacts with bigger US trading partners, such as the EU, India, and Canada. While Trump has said a pact with India is close, the odds have narrowed after he warned of an extra 10% tariff on BRICS members.

Amping up the pressure for deals, Trump has sent 22 letters to the heads of countries this week. Each has a similar formula, dictating the tariff rates he says will apply to their imports starting Aug. 1.

Meanwhile, eyes are back on prospects for AI after the Nasdaq Composite (^IXIC) clinched a new record close on Wednesday, thanks in large part to a continued surge from Nvidia. The chipmaker's stock rose in premarket, set to build on the all-time high hit after Nvidia became the first public company to cross a market value of over $4 trillion.

An update on weekly jobless claims due later will get attention in a week light on economic data to help set expectations for interest-rate cuts. Few Federal Reserve policymakers were open to a July start to lowering rates at their June meeting, according to minutes released on Wednesday.


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