U.S. stock futures slipped early Thursday as investors grappled with conflicting signals from President Trump on trade and monetary policy. The volatility reflects ongoing market uncertainty amid a barrage of mixed messages from the White House.
Futures for the Dow Jones Industrial Average (YM=F) fell by 0.5%, while S&P 500 (ES=F) futures were down 0.4%. The tech-heavy Nasdaq Composite (NQ=F) dipped 0.6%.
The declines follow a rally on Wednesday, fueled by a Wall Street Journal report suggesting the Trump administration was considering easing tariffs on China. The report aligned with recent optimistic comments from Trump, who hinted that tariffs could eventually be rolled back as part of a broader trade agreement.
However, momentum faded quickly after Treasury Secretary Scott Bessent denied any such move, stating that there had been “no unilateral offer from the president to deescalate” tensions with China. The contradictory messaging left investors unsure of the administration’s actual stance on trade.
Adding to the confusion, Financial Times reported that the administration was exploring potential exemptions for automakers from steep auto tariffs. Yet, in a separate statement, Trump suggested he might raise tariffs on Canadian car imports to 25%.
The White House further stoked uncertainty by launching a probe into truck imports, signaling a possible expansion of tariffs into that sector as well.
Looking ahead, Wall Street will be closely watching Alphabet’s earnings on Thursday. While Google’s parent company isn’t expected to be directly affected by trade tensions yet, investors will be tuning in for any hints about future impacts.
Intel is also set to report earnings after the closing bell. These results will mark the first under the leadership of new CEO Lip-Bu Tan, adding another layer of interest for investors tracking the tech sector.
