U.S. stock futures slipped early Thursday morning. This came after the S&P 500 posted gains for three days in a row. The gains followed a temporary pause in the trade dispute between the U.S. and China.
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Futures for the S&P 500 fell 0.5%. Nasdaq 100 futures dropped 0.7%. Dow Jones Industrial Average futures were down 164 points, or 0.4%.
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Stocks have been boosted by talks between U.S. Treasury Secretary Scott Bessent and Chinese officials last weekend. The talks seemed to delay a short-term decline in economic activity and rising inflation. On Wednesday, the S&P 500 rose 0.1%.
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The Nasdaq Composite gained 0.7%. But the Dow slipped 0.2%. Big tech companies have performed well this week.
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Apple and Microsoft are both up more than 16%. Amazon has added 11.3%. The Nasdaq Composite is up 6.8% for the week.
The S&P 500 has gained 4.11%. The Dow is 1.9% higher. April’s consumer inflation report also lifted investor sentiment.
It showed prices rising slower than economists had predicted.
Stock futures slip after recent gains
Core inflation, which excludes food and energy, increased 0.2%.
This was below the estimate of 0.3%. Traders are now awaiting several economic reports on Thursday morning. These include April’s producer price index, retail sales, and industrial production numbers.
Weekly jobless claims and quarterly earnings from Walmart are also due. Cisco Systems was the top performer in the S&P 500 in premarket trading. Its shares rose nearly 4% after reporting better-than-expected quarterly results.
The company posted adjusted earnings of 96 cents per share on revenue of $14.15 billion. Analysts had expected 92 cents per share on revenue of $14.08 billion. Shares of UnitedHealth Group fell Wednesday night on reports that the Department of Justice is investigating the insurer’s Medicare Advantage business practices.
A UnitedHealth spokesman said the company has not been notified of the reported criminal probe. Shares were last down 8%, weighing on Dow futures. Several other stocks saw notable moves in after-hours trading Wednesday.
Foot Locker shares jumped 67% on reports of a potential $2.3 billion acquisition deal. Dick’s Sporting Goods shares slid about 6%. CoreWeave shares fell around 6% despite a 420% year-over-year revenue increase.
Futures were little changed Wednesday night. S&P 500 and Nasdaq 100 futures each slipped 0.1%. Dow futures lost about 38 points, or 0.1%.
