22.01.202612:02:21UTC+00US Stocks Set to Extend Gains

On Thursday, U.S. futures experienced an upward trend, with S&P 500 futures increasing by 0.6%, Nasdaq 100 futures up by 0.9%, and Dow Jones futures rising approximately 180 points, building on the 1.2% gain seen in the previous session. This surge followed President Trump's decision to halt plans for imposing new tariffs on a group of European countries. He cited reaching a "framework agreement" regarding Greenland after discussions with the NATO Secretary General. AI-related stocks demonstrated resilience in premarket trading, further buoyed by revelations that Alibaba Group intends to list its chipmaking unit and favorable comments from Nvidia’s CEO. Major corporations saw advances, with Nvidia gaining 0.8%, Microsoft climbing 0.9%, Apple increasing 0.8%, Amazon rising 0.8%, Meta advancing 1.5%, Alphabet up 1.8%, Broadcom gaining 1.6%, and Tesla climbing 1.2%. However, shares of General Electric declined by about 0.8%, even though their quarterly results surpassed expectations. Traders are now shifting their attention to the forthcoming Personal Consumption Expenditures (PCE) inflation data for October and November, along with updated GDP growth estimates that are set to be released today.