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U.S. stocks appear set for a cautious opening on Thursday amid simmering trade tensions between the United States and China. After Trade Representative Jamieson Greer called China’s rare earth export controls “incredibly aggressive,” Treasury Secretary Scott Bessent said that the Trump administration is considering curbing exports to China on goods made with U.S. software.
Addressing reporters at the White House on Wednesday, President Donald Trump said he has a “pretty long meeting scheduled” in South Korea with his Chinese counterpart, President Xi Jinping. “We can work out a lot of our questions and our doubts,” he added.
While Dow Jones futures were down by 0.06% at the time of writing, the S&P 500 futures rose 0.03%, while the tech-heavy Nasdaq 100’s futures edged up by 0.01%. Futures of the Russell 2000 index gained 0.48%.
Meanwhile, the SPDR S&P 500 ETF (SPY) was up by 0.04% at the time of writing, Invesco QQQ Trust (QQQ) gained 0.01% on Thursday morning, and SPDR Dow Jones Industrial Average ETF Trust (DIA) fell 0.05%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.
Asian markets ended Wednesday’s trading session on a mixed note, with the Nikkei 225 index declining the most at 1.31%, followed by the KOSPI at 0.99%, and the TWSE Capitalization Weighted Stock index at 0.42%.
The Hang Seng index rose 0.51%, while the Shanghai Composite gained 0.22%.
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