Premarket Movers Point to Cautious Trading After Wednesday’s Decline
U.S. stock futures are trading mixed early Thursday as investors prepare for a crucial inflation report while digesting the recent U.S.-China trade agreement. The market is looking to recover after all three major indexes closed lower in Wednesday’s choppy session.
As of 6:30 AM ET, Dow Jones Industrial Average futures are up slightly by 0.1%, while S&P 500 futures remain flat and Nasdaq Composite futures edge down 0.2%. The cautious premarket activity follows Wednesday’s session where the Dow closed at 42,865.77, the S&P 500 fell 0.3% to 6,022.24, and the Nasdaq dropped 0.5% to 19,615.88.
Major Indexes Near Record Territory Despite Recent Pullback
Despite Wednesday’s decline, the stock market today remains in a strong position, with the S&P 500 less than 2% away from its all-time high. The recent pullback ended a three-day winning streak for the benchmark index, as investors took profits following positive momentum earlier in the week.
The CBOE Volatility Index (VIX), often referred to as the market’s fear gauge, rose 1.8% to 17.26 on Wednesday, indicating increased uncertainty as traders navigate the complex economic landscape.
US-China Trade Agreement Takes Center Stage in Markets Today
A significant development driving market news today is the recently announced trade agreement between the United States and China. After two days of high-level meetings in London, officials from both countries have reached a framework to implement what they’re calling the “Geneva consensus.”
U.S. Commerce Secretary Howard Lutnick stated, “We have reached a framework to implement the Geneva consensus and the call between the two presidents.” President Donald Trump indicated the deal is “done, subject to final approval with President Xi and me,” adding that the U.S. would maintain 55% tariffs while China would face 10% tariffs.
The agreement follows a 90-day pause in tariff implementations that began on May 12. Market participants are now awaiting the formal signing of the deal by both presidents, which could significantly impact global trade dynamics and corporate earnings.
Key Economic Data on Tap for Thursday
Today’s stock market live action will likely be influenced by several important economic reports scheduled for release. At 8:30 AM ET, the Producer Price Index (PPI) for May will be published, with economists expecting a reading of -0.5% month-over-month, following a surprising decline in April. The core PPI, which excludes volatile food and energy prices, is forecast to show a -0.1% change.
The year-over-year PPI is expected to come in at 2.4%, while core PPI year-over-year is anticipated at 2.9%. These inflation metrics will be closely watched for signals about the Federal Reserve’s potential interest rate decisions in the coming months.
Additionally, weekly initial jobless claims data will be released, providing insight into the labor market’s current health.
Notable Premarket Movers to Watch
Tesla (TSLA) shares are up nearly 3% in premarket trading, recovering ground lost after a public disagreement between CEO Elon Musk and President Trump. The electric vehicle maker appears to be bouncing back as investors look past the social media spat.
Intel (INTC) remains under pressure following Wednesday’s 6.3% decline. The PC chipset giant was the major loser on the Nasdaq yesterday, and traders will be watching to see if the stock can stabilize.
Nvidia (NVDA) is showing weakness in early trading after CEO Jensen Huang’s comments about expanding Europe’s AI computing power tenfold. Despite the company’s strong long-term outlook, the stock is facing short-term pressure amid broader tech sector volatility.
Sector Performance and What to Watch
Energy stocks could see continued strength today after the sector outperformed on Wednesday, with the Energy Select Sector SPDR (XLE) rising 1.5%. Conversely, Materials and Consumer Discretionary sectors, which fell 1% and 0.8% respectively yesterday, will be monitored for signs of recovery.
As the markets today open, investors should keep an eye on the 10:00 AM ET release of the preliminary June Consumer Sentiment report, expected to come in at 52.2, which could provide additional insight into consumer confidence and spending patterns heading into the summer months.
With trading volume running above average—Wednesday saw 18.9 billion shares traded compared to the 20-session average of 17.8 billion—market participants should be prepared for potential volatility as the day unfolds.

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.