Market participants also remained focused on upcoming U.S. inflation, jobs and GDP data that could shape expectations for future monetary policy.

Dow Futures Rise Over 150 Points Before Market Open

Futures linked to the Dow Jones Industrial Average rose 158 points, or 0.31%, before the opening bell, signaling a potential rebound after Wednesday's steep losses. The recovery comes after the Dow plunged 1,153.18 points (2.19%) in the previous session, marking its biggest single-day decline since April 2025. Investors are cautiously returning to equities as they digest a fresh wave of corporate earnings alongside expectations for key economic data later in the day.

S&P 500 Futures Edge Higher ahead of Inflation and GDP Data

S&P 500 futures gained 0.35% in premarket trading as traders positioned themselves ahead of several closely watched U.S. economic releases.

Investors are awaiting the Personal Consumption Expenditures (PCE) Price Index for June, the Federal Reserve's preferred inflation gauge, along with weekly initial jobless claims and the first estimate of second-quarter U.S. Gross Domestic Product (GDP).

Economists expect headline PCE inflation to increase 3.7% year over year, while core PCE inflation, which excludes food and energy prices, is projected to rise 3.3%.

Nasdaq Futures Jump as Microsoft Shares Rally

Nasdaq 100 futures climbed 0.61%, supported by a strong rally in technology shares led by Microsoft.

Microsoft surged 8.3% in premarket trading after reporting better-than-expected quarterly results, driven by continued strength in its Azure cloud computing business. The earnings helped ease investor concerns about slowing growth in artificial intelligence-related investments.

However, gains across the technology sector were partially offset by weakness in Meta Platforms, whose shares fell about 9% after the company issued softer revenue guidance and reported a 91% decline in second-quarter free cash flow.

Stephen Evans, Chief Investment Officer at Pave Finance, said Microsoft's performance suggests concerns over slowing AI-driven growth may have been overstated, while Meta will need to demonstrate stronger cost control and improved returns from its investments to restore investor confidence.

US Stock Market Today: Chip Stocks Remain Under Pressure

Despite the broader gains in futures, semiconductor stocks continued to face selling pressure. Qualcomm declined 5.1% in premarket trading, while Arm Holdings fell more than 7%, reflecting investor caution following recent earnings updates.

The technology sector remains one of the biggest drivers of Wall Street sentiment as investors evaluate whether heavy spending on artificial intelligence will continue translating into stronger earnings growth.

US Stock Market Today: Federal Reserve Holds Interest Rates Steady

Markets are also digesting the Federal Reserve's latest policy announcement after officials voted to leave benchmark interest rates unchanged at Wednesday's meeting.

Following the decision, U.S. Treasury yields moved sharply higher, with the 30-year Treasury yield climbing more than 9 basis points to above 5.2%, reaching its highest level since 2007.

Sameer Samana, Head of Global Equities and Real Assets at Wells Fargo Investment Institute, said the Fed remains in a "wait-and-see" mode as policymakers continue monitoring incoming economic data. According to Samana, the central bank's September meeting remains a potential opportunity for policymakers to adjust interest rates if inflation trends support such a move.

US Stock Market Today: Corporate Earnings Stay in Focus

The corporate earnings season continues at full pace on Thursday. Bristol-Myers Squibb is scheduled to report earnings before markets open, while investors are also awaiting quarterly results from Amazon, Apple, and Coinbase after the closing bell.

Their earnings are expected to provide further insight into consumer spending, cloud computing demand, artificial intelligence investments and broader business conditions.

US Stock Market Today: European Markets Trade Higher on Earnings Optimism

European equities posted modest gains as investors reacted to another wave of corporate earnings. The pan-European Stoxx 600 advanced 0.30%, while France's CAC 40 gained 0.53% and the UK's FTSE 100 added 0.38%. Germany's DAX and Italy's FTSE MIB traded slightly lower. Major European companies reporting quarterly results included Shell, Stellantis, Adidas, and Rolls-Royce Holdings.

US Stock Market Today: Asian Markets Close Mixed

Asian markets ended Thursday's session with mixed performances. Japan's Nikkei 225 rose 0.71%, supported by gains in technology shares, while South Korea's Kospi declined 1.23%. Australia's S&P/ASX 200 slipped 0.78%, and China's CSI 300 lost 1.10%. The mixed performance reflected investor caution ahead of major U.S. economic data and ongoing geopolitical developments.

US Stock Market Today: What Investors are Watching Next

Market attention now turns to a busy economic calendar that could influence expectations for the Federal Reserve's next policy move.

Alongside the June PCE inflation report, investors will monitor weekly initial jobless claims and the advance estimate of second-quarter U.S. GDP. The data will offer fresh insight into inflation trends, labor market conditions and overall economic growth. The results, combined with major corporate earnings from Amazon, Apple and Coinbase, are expected to set the tone for Wall Street heading into the final trading sessions of the week.

Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. Investors should conduct their own research or consult a qualified financial advisor before making investment decisions.