Dow, S&P 500, Nasdaq futures edge lower ahead of Supreme Court tariff ruling
U.S. stock futures hovered near the flatline Thursday morning as investors balanced easing concerns over lofty AI valuations with cautious optimism from a Supreme Court hearing that hinted at a possible setback for President Donald Trump’s tariff policy.
S&P 500 (ES=F) and Dow Jones Industrial Average (YM=F) futures were little changed, while Nasdaq 100 (NQ=F) futures edged down 0.1%, News.Az reports, citing foreign media.
The market reacted to signs of skepticism from several Supreme Court justices during arguments on the legality of Trump’s sweeping trade tariffs. A ruling against the policy could unwind the duties, carrying major implications for global trade and U.S. consumer spending.
Meanwhile, AI-related stocks rebounded after an early-week selloff. Advanced Micro Devices (AMD) jumped more than 2% following stronger-than-expected third-quarter results, boosting other chipmakers such as Broadcom (AVGO) and Micron Technology (MU), which climbed 2% and 9%, respectively.
The rally in AI shares helped steady broader market sentiment after recent weakness that left all three major indexes on track for weekly declines. Still, concerns persist about inflated valuations and the sustainability of AI-driven growth.
Earnings season remains in the spotlight, with reports expected from Warner Bros. Discovery (WBD), Airbnb (ABNB), and Moderna (MRNA) later in the day. Investors are also watching Tesla’s (TSLA) shareholder meeting at 4 p.m. ET, where Elon Musk’s proposed trillion-dollar pay package will be up for discussion.
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