Trade Dynamics Shift Wall Street's Future
Wall Street sentiment was mixed due to earnings reports from Alphabet and Tesla and ongoing U.S. trade negotiations. Alphabet's spending plans contrast with Tesla's caution over EV subsidies. The Dow, S&P 500, and Nasdaq responded variably, reflecting market optimism over potential trade deals with the EU and Japan.
Wall Street was on edge Thursday as investors grappled with earnings reports from major players like Alphabet and Tesla, while keeping a close eye on U.S. trade discussions. Alphabet announced plans for $85 billion in spending, ignoring trade tensions, whereas Tesla's outlook was cautious amid dwindling EV subsidies.
Market indices showed mixed results. S&P 500 futures gained slightly, Nasdaq futures had a moderate uptick, but Dow futures declined. Reports suggested a U.S.-EU trade deal might be imminent, while a new agreement with Japan showed progress in easing trade disputes. Elsewhere, China and South Korea dodged Trump's tariffs with their own swift deals.
Investor optimism was tempered by challenges facing some corporate heavyweights. Boeing, IBM, and American Airlines faced setbacks, while Honeywell and ServiceNow outperformed. Meanwhile, Trump's visit to the Federal Reserve added intrigue as traders speculated on future interest rate decisions amid the tariff turbulence.
(With inputs from agencies.)
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