S&P 500, Nasdaq Futures Waver Ahead Of Supreme Court Ruling On Trump Tariffs: Why OPEN, ACON, FLYX, OSCR Are Trending After-Hours

• A Supreme Court ruling on tariffs and the U.S. jobs report were scheduled for Friday.
• Housing, biotech and aviation stocks saw notable moves during regular and extended trading.
• Markets tracked developments related to trade policy, mortgage bonds and economic data.

U.S. stock futures were mixed late Thursday as investors positioned cautiously ahead of a key U.S. jobs report and weighed a series of policy signals out of Washington that could influence trade, rates, and housing markets.

As of 9.05 P.M. ET, Nasdaq 100 futures were down 0.2%, while S&P 500 futures were down by 0.1%. Dow futures were up 0.6%.

On Stocktwits, retail sentiment toward the SPDR S&P 500 ETF Trust (SPY) was ‘neutral’, while sentiment toward the Invesco QQQ Trust (QQQ) was ‘bullish’ and sentiment toward the SPDR Dow Jones Industrial Average ETF Trust (DIA) was ‘extremely bearish’, all amid ‘high’ message volume.

Market Drivers

Markets reacted to two potential catalysts heading into Friday: a possible ruling from the U.S. Supreme Court on the legality of tariffs imposed under President Donald Trump and his latest comments on mortgage markets.

In the prior session, the Dow Jones Industrial Average rose 0.6%, while the S&P 500 climbed 0.01% and the Nasdaq Composite slid 0.4%.

Trump said in a social media post on Thursday that he is instructing his representatives to buy $200 billion in mortgage bonds, arguing that the move would help lower mortgage rates and monthly payments. He added that Fannie Mae and Freddie Mac have about $200 billion in cash, framing the directive as a way to make homeownership more affordable.

The comments came a day after Trump said he would seek to ban large institutional investors from buying single-family homes, citing rising inflation and high housing costs as a growing barrier for younger Americans.

Peter Schiff Pushes Back On Mortgage Bond Buying

Economist Peter Schiff said on X that lower home prices, rather than additional credit, were the only solution to the housing affordability crisis. He argued that directing more government-backed credit into the mortgage market would allow buyers to stretch further and overpay for homes, worsening the problem.

Schiff also said in a separate post that if the $200 billion were sourced from government-sponsored entities, it could reduce availability for U.S. Treasuries. While such purchases might temporarily push mortgage rates lower, he warned they could also lead to higher Treasury yields and increased inflation pressures.

Trending Stocks To Watch

Opendoor Technologies: Shares jumped more than 12% after hours after rising about 5% in regular trading, as comments on mortgage-related policy lifted housing-linked stocks.

Rocket Companies: The stock gained 7% in extended trading after slipping 0.2% during the regular session, also moving on mortgage and rate-related news.

Aclarion: Shares fell about 13% after hours after surging more than 42% in regular trading, following an update on business progress, rising demand for its Nociscan platform, and its financial position heading into 2026.

flyExclusive: The stock more than doubled during regular trading, up over 130%, after the company announced an authorized dealership agreement with Starlink to install high-speed connectivity across its fleet.

Oscar Health: Shares rose nearly 7% after hours after gaining about 3% in regular trading, as investors reacted to a House vote backing ACA subsidy extensions, despite a disclosed insider share sale.

Enliven Therapeutics: The stock added about 1% after hours after soaring roughly 50% during the session, following positive early data from its Phase 1b Enable trial for ELVN-001 in chronic myeloid leukemia.

Broader Markets

In broader markets, oil prices rebounded after two straight days of declines, settling at a two-week high. Brent crude rose $2.03, or 3.4%, to $61.99 a barrel, while U.S. West Texas Intermediate gained $1.77, or 3.2%, to $57.76. 

The yield on the benchmark 10-year U.S. Treasury was last around 4.18%. Asian equities were mixed, with shares opening higher in Japan and Australia, while South Korea lagged.

Among the catalysts for the day are housing starts and building permits figures, updated University of Michigan consumer sentiment readings, and remarks from Minneapolis Fed President Neel Kashkari and Richmond Fed President Tom Barkin.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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