The trader works on the floor of the New York Stock Exchange (NYSE) in New York City, USA on April 23, 2025.
Brendan McDermid | Reuters
Stock futures slid on Thursday after China said it had no continued trade talks with the US and boldly bold investors’ hopes to facilitate tensions between the two countries.
Futures linked to the S&P 500 It had a 0.2% decrease Nasdaq-100 Futures 0.1% was slid. Dow Jones Industrial Average Futures lost 182 points, or 0.5%.
The main average recorded strong profits on Wednesday, rising more than 1% each. That being said, they’ve fully finished their best day. As of one point on Wednesday, the Dow had risen over 1,100 points.
Stocks were boosted in hopes of ease of trade tensions between the US and China. Earlier this week, President Donald Trump said he was willing to take a less confrontational approach to trade talks with Beijing. Additionally, Treasury Secretary Scott Bescent said Wednesday that the US has “a big opportunity” in trade. China’s imports are subject to US tariffs 145%.
However, investors awaiting signs of tariff negotiations remained disappointed. China said overnight that there were no trade talks with the US. A spokesman for the Commerce Department and Yadon added that “all proverbs” regarding progress in bilateral talks should be rejected. The spokesman also requested the cancellation of “unilateral” tariffs.
“As if the market’s ultimate goal is whether it’s a tariff reversal or a critical trade deal, “It’s encouraging to hear more stubborn tones about tariffs from the administration, but for the time being, the scope is still distanced. “It can take several months for the revision to finish, but I still believe this is a revision given the speed of the decline.”
Additionally, Trump said late Tuesday that he had no intention of firing Federal Reserve Chairman Jerome Powell. Jerome Powell’s term ends in May 2026. This appears to raise emotions in the market, especially as Trump and Powell’s relationship has been strained lately. Earlier this week, the president called Powell a “major looser.”
All three major averages are at a pace of weekly profits, with Nasdaq rising 2.6% and the S&P 500 rising nearly 1.8%. The Dow is moving at a pace of 1.2% progression in the period.
International Business Machines Slump of over 7%. The company posted better revenue and revenue than expected in the first quarter, but maintained its full-year guidance. Southwest Airlines It lost 4% after the company said it plans to cut its schedule later this year, drawing revenue guidance in 2025 and 2026 before interest and taxes.
