US stocks wavered on Thursday as investors took stock of the AI boom and awaited key earnings reports, while an escalation in the US-Iran war continued to weigh.
Futures on the Dow Jones Industrial Average (YM=F) rose 0.2%, S&P 500 (ES=F) was roughly flat, and contracts for the Nasdaq-100 (NQ=F) dipped 0.5% after Big Tech buoyed markets the day before — with Apple (AAPL) reaching a record high.
Investors continued to monitor oil’s movement through the Strait of Hormuz after the US launched its latest wave of airstrikes on Iran on Wednesday. The Wall Street Journal reported Wednesday that Trump was briefed by aides on options to expand the conflict, including by increasing bombing and deploying ground forces.
Also in focus Thursday are Taiwan Semiconductor Manufacturing Company’s (TSM) earnings, which offered the latest strong demand signal on the artificial intelligence build-out as markets have cycled through risk-on and risk-off sentiment.
UnitedHealth Group (UNH) and GE Aerospace (GE) will also report quarterly results before the opening bell, while Netflix’s (NFLX) second quarter report highlights the earnings calendar after the close.
In economic data, retail sales figures will provide a gauge of consumer spending, while jobless claims data will give investors an update on the labor market. Both indicators will be released at 8:30 a.m. ET.
