US Futures Steady After Sharp Market Selloff
US stock futures remained stable after a significant selloff, with major indexes experiencing declines due to concerns over the growing federal deficit. The Dow fell 1.91%, S&P 500 dropped 1.61%, and Nasdaq Composite decreased 1.41%. Investor anxiety was fueled by rising Treasury yields and a proposed federal budget facing opposition from some Republicans. Investors are looking forward to the weekly jobless claims report. In corporate news, Lumen Technologies shares rose 11% after AT&T's acquisition announcement, while Snowflake and Urban Outfitters saw gains from strong quarterly results.
US stock futures held steady on Thursday after major indexes tumbled in the previous session amid renewed concerns over the ballooning federal deficit.
On Wednesday, the Dow dropped 1.91%, the S&P 500 fell 1.61%, and the Nasdaq Composite declined 1.41%.
The sharp losses followed a spike in Treasury yields driven by investor anxiety over a proposed federal budget that could exacerbate the already sizable deficit.
However, the bill encountered resistance as several blue-state Republicans threatened to withhold support unless it included a larger deduction for state and local taxes—a key issue that could undermine Trump’s broader tax agenda.
Investors are now awaiting Thursday's weekly jobless claims report for insights into the strength of the labor market.
In corporate news, Lumen Technologies surged 11% in after-hours trading as AT&T announced it would acquire Lumen’s Mass Markets fiber internet business.
Snowflake and Urban Outfitters also rallied sharply on strong quarterly results.
