TLDR
- S&P 500 futures edged lower after record highs as traders booked profits across major U.S. indices.
- IBM and ServiceNow losses weighed on sentiment, while Tesla reversed gains after spending outlook.
- Jobless claims rose slightly to 214,000, signaling steady labor market conditions with mild softening.
- Oil prices above $100 per barrel kept markets cautious amid ongoing Middle East supply concerns.
Global equity futures eased on Thursday after a strong rally that pushed major U.S. indexes to fresh record highs in the previous session. Early trading reflected caution as investors reacted to mixed earnings, geopolitical tension in the Middle East, and shifting energy prices.
Futures retreat after record session gains
S&P 500 futures slipped about 0.2%, while Nasdaq 100 futures also edged lower. Dow futures declined more sharply by roughly 0.5%, signaling a softer start for U.S. equities after Wednesday’s rally.
Market sentiment cooled after recent record closes, with traders adjusting positions ahead of fresh economic data and earnings updates. The prior session had been supported by easing geopolitical fears following an extended U.S.–Iran ceasefire, which briefly boosted risk appetite across equities.
However, renewed uncertainty returned as oil prices climbed above the $100 per barrel level. Energy supply risks linked to tensions around the Strait of Hormuz kept pressure on sentiment, limiting further upside in futures trading.
Earnings drive mixed stock reactions across sectors
Corporate results created uneven market movement, with several large-cap names reacting sharply. IBM and ServiceNow recorded notable declines after earnings releases, with both stocks falling on growth concerns and cautious outlooks.
Tesla initially traded higher after stronger-than-expected results, but later reversed gains. The stock slipped after management flagged higher capital spending tied to artificial intelligence and autonomous driving expansion plans.
Other companies also showed mixed performance across earnings reports. Some firms beat expectations, while others faced pressure from rising costs and uneven demand conditions, contributing to sector-level volatility.
Macro data and oil prices shape market direction
Weekly U.S. jobless claims rose slightly to 214,000, remaining consistent with a relatively stable labor market. Continuing claims also edged higher, suggesting steady but cautious employment conditions.
At the same time, oil markets remained a key driver for sentiment. Brent crude hovered above $100, reflecting supply concerns and geopolitical risks affecting global shipping routes.
Investors also monitored upcoming manufacturing and services PMI data for April. These figures are expected to guide near-term expectations on economic momentum, especially as markets balance strong earnings against energy-driven inflation risks.
