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Traders work on the floor of the New York Stock Exchange during morning trading on August 05, 2026 in New York City.
Michael M. Santiago | Getty Images
Futures tied to the Dow Jones Industrial Average rose after the blue-chip index closed at a record high, as investors looked ahead to another round of corporate earnings.
Dow futures added 92 points, or 0.2%. S&P 500 futures climbed 0.2%, and Nasdaq 100 futures were marginally lower.
In regular trading, the Dow rose 263.24 points, or 0.49%, for a record close and its fifth positive day in a row. The S&P 500 pulled back 0.17% and snapped a four-day win streak. The Nasdaq Composite dropped 0.83%.
In Asia, Japan's Nikkei 225 slipped 0.51%, while the Topix inched higher. The Kospi dropped 1.84% at open, while the small-cap Kosdaq gained 0.15%. Australia's benchmark S&P/ASX 200 added 0.1%.
Strong earnings and renewed optimism over artificial intelligence initially lifted the U.S. market Wednesday, with Nvidia rallying more than 3% after Elon Musk said on SpaceX's earnings call that the company would use Nvidia chips exclusively for its AI infrastructure. The chipmaker's climb helped push the Dow to its new high. However, tech stocks pulled back as investors took profits and shares of Advanced Micro Devices and Alphabet struggled.
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The earnings growth story has legs, says Goldman Sachs' Katherine Bordlemay
"Earnings are getting bigger, they're getting broader," Katherine Bordlemay, Goldman Sachs Asset Management co-head of Americas client portfolio management, told CNBC's " Closing Bell: Overtime." "More encouraging is the breadth. We're seeing double-digit earnings growth coming from almost all sectors in the S&P."
"This big debate of are we going to have a return on investment from the AI — well we've really seen some companies like the hyperscalers show up and say yes," Bordlemay added. "Margins are starting to expand, backlogs are continuing, so that all continues and ... earnings are going to tee us up well."
Investors have also been encouraged by signs that tensions in the Middle East could ease, which has put oil on a cooling trend in recent days.
However, inflation is still in focus for Federal Reserve Governor Lisa Cook, who said on Wednesday that she is " prepared to act" on an interest rate hike unless signs of continued disinflation emerge.
"With five years of above-target inflation, the risk grows that higher inflation may become entrenched in price- and wage-setting behavior, leading to persistence that would be much harder for us to attack," she said during a speech in Anchorage, Alaska. "The longer inflation is above target, the more likely this scenario becomes."
Wall Street is looking ahead to another busy day of earnings Thursday, with Warner Bros. Discovery on deck before the bell. Airbnb and Lyft are slated to report after the bell.
In economic data, weekly jobless claims are due on Thursday morning. The main event will be July's payrolls report, which will be out on Friday morning.
— CNBC's Jeff Cox contributed reporting.
15 Min Ago
DBS shares rise over 2% to record high after strong quarterly earnings
Shares of DBS, Southeast Asia's largest bank by assets, rose 2.3% to a record high of 75.2 Singapore dollars, after the lender reported a record profit for the second quarter.
DBS reported net profit of S$3.08 billion ($2.41 billion), up 9% year on year, thanks to higher wealth management and fee income which helped offset lower interest margins.
"Fee income remained near record levels and treasury customer sales reached a new high as wealth," DBS said in its earnings statement.
— Justina Lee
48 Min Ago
TikTok to layoff 250 employees in Nashville office: The New York Times
TikTok's U.S. joint venture has laid off 250 employees, shuttering its Nashville office, The New York Times reported.
""We have decided to close our Nashville office to streamline our operations and better align our teams for long-term growth," NYT reported, citing a press officer from what is known as the TikTok U.S.D.S. Joint Venture.
The office, which occupied nearly 145,000 square feet of space in the heart of Nashville's music district, will close on Oct. 5, the NYT said.
— Justina Lee
41 Min Ago
Mainland China and Hong Kong indexes open lower as Asia markets decline
Mainland China and Hong Kong's benchmark indexes opened lower amid broad losses in Asia markets.
Hong Kong's Hang Seng index fell 1.79%, while mainland China's CSI 300 declined 0.7%.
The drop in Hang Seng was led by real estate and financial stocks, down 2.36% and 1.64%, respectively.
— Justina Lee
2 Hours Ago
Asian tech stocks track Wall Street's tech pullback
Asian technology stocks fell Thursday, tracking declines in U.S. peers overnight.
In Japan, SoftBank Group dropped 4.57%, while chip equipment maker Tokyo Electron fell over 5%. Advantest lost 4.66%, and Japanese memory chipmaker Kioxia declined 11%.
In South Korea, SK Hynix fell 6.67%, while Samsung Electronics slipped 2.85%. Seoul Semiconductor declined 2.88%.
Tech stocks have been seeing heightened volatility in recent sessions, with South Korea's semiconductor-heavy market whipsawing between steep losses and record gains.
— Justina Lee
3 Hours Ago
Japan's Nikkei 225 and South Korea's Kospi open lower
Asia-Pacific markets opened mixed Thursday, tracking U.S. markets that saw the Dow gain while the S&P 500 and the Nasdaq Composite drop.
Japan's Nikkei 225 slipped 0.51%, while the Topix inched higher.
The Kospi dropped 1.84% at open, while the small-cap Kosdaq gained 0.15%.
Australia's benchmark S&P/ASX 200 added 0.1%.
—Justina Lee
3 Hours Ago
Nikkei 225 Chicago futures slip as investors keep watch on Mideast developments
Asia-Pacific markets were set to open lower on Thursday, as investors continue to keep watch for progress in a Iran-U.S. deal to reopen the Strait of Hormuz.
Japan's Nikkei 225 was poised to decline, with the Chicago futures contract at 65,885 and its Osaka counterpart last trading at 65,780, compared with the index's previous close of 66,300.44.
Hong Kong Hang Seng index futures were at 25,674, lower than the index's last close of 25,915.82.
In Australia, futures last traded at 9,143, while the S&P/ASX 200′s closed at 9,227.80.
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The U.S., Iran and Oman are working on an interim deal to manage ship traffic in the Strait of Hormuz, where inbound ships would transit Iran's territorial waters while outbound ships would sail through Oman's waters in coordination with Tehran, Axios reported, citing two regional sources.
—Justina Lee
3 Hours Ago
All eyes on SpaceX as key lock-up provision expires on Thursday
A major catalyst looms ahead for Elon Musk's rocket company: Insider lock-ups are set to expire on Thursday, allowing them to sell a portion of their shares.
The release of SpaceX's first earnings report as a public company this week triggers a provision that allows investors to sell 20% of their eligible locked-up shares – a total of up to 911.5 million shares – on Thursday.
The expiration comes after SpaceX dropped more than 13% Wednesday on the back of a sharp increase in capital expenditures. The company said that its capital expenditures surged sixfold to $18.4 billion in the second quarter, with much of it going toward artificial intelligence.
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SpaceX in the past day
SpaceX shares were last trading 2% higher in after hours.
— Darla Mercado
4 Hours Ago
Stocks making the biggest moves in extended trading
Shares of several companies moved in after-hours trading following the latest round of earnings reports.
AppLovin — The marketing platform operator tanked almost 16% after third quarter projections disappointed Wall Street. The company sees adjusted EBITDA for the period in a range of $1.71 billion to $1.74 billion, while the StreetAccount consensus estimate sought $1.75 billion. Revenue in the second quarter also narrowly missed estimates.
Western Digital — Shares of the data storage company slumped more than 10% as current quarter projections underwhelmed traders. Western Digital called for adjusted earnings of $4 a share, plus or minus 15 cents, on revenue of $4.1 billion, plus or minus $100 million. The LSEG consensus estimate forecast $3.81 a share on $4.04 billion in revenue.
Read more about Wednesday's movers here.
— Darla Mercado
5 Hours Ago
Stock futures open near flat
U.S. stock futures opened near flat on Wednesday at 6 p.m. ET.
Futures tied to the S&P 500 rose 0.1%, while Dow futures gained 57 points, or 0.1%. Nasdaq 100 futures slid 0.1%.
- Darla Mercado