Traders work on the floor of the New York Stock Exchange on Feb. 13, 2025.
NYSE
S&P 500 futures were little changed Thursday night after President Donald Trump held off on imposing new reciprocal tariffs.
Futures linked to the 500-stock index were marginally lower, as were Dow Jones Industrial Average futures. Nasdaq 100 futures dipped 0.1%.
During the day’s regular session, the S&P 500 added 1.04%, while the tech-heavy Nasdaq Composite rose 1.5%. The Dow advanced 0.77%, hitting its session highs after Trump signed a presidential memorandum on reciprocal tariffs but fell short of enacting them for the time being.
Investors were also relieved after January’s producer price index, as well as Wednesday’s consumer price index report, seemed to suggest a softer reading for the personal consumption expenditures price index. The PCE price index is the Federal Reserve’s preferred inflation gauge, and it is due later this month.
While markets managed to end Thursday higher, Mark Malek, chief investment officer at Siebert, believes that this relief and positive momentum over a pause in retaliatory tariffs may be short-lived.
“The market will have pressure on Friday — there was not enough clear stimulus for the market to trade this way … nothing that would justify this late-day move. I listened very carefully to the president speaking, and there was nothing in there that stood out to me as great for the market,” he told CNBC in an interview. “Friday is going to be one of those days where people are going to try to figure out what this all means.”
For now, the major averages are all on pace to end the week higher. The S&P 500 and the Dow are respectively set for a gain of about 1.5% and 0.9%. The Nasdaq is 2.2% higher week to date.
Biopharma giant Moderna will report earnings Friday before the bell. Traders will also watch out for the latest retail sales data.
Retail investor pessimism rises to highest since November 2023, AAII survey shows
Almost half of all Main Street investors responding to a weekly survey from the American Association of Individual Investors are bearish on the outlook for stocks over the next six months, the largest number since November 2023. Pessimism rose to 47.3% in the survey out Thursday, from 42.9% last week and the most since 50.3% in late 2023.
The historical average for bearishness is 31.0%.
Only 28.4% of individual investors responding to the survey described themselves as bullish, down from 33.3% last week but only the lowest reading in a month. The historical average for optimism toward stocks is 37.5% over the life of the survey, which dates to the mid-1980s. The remainder of respondents are neutral toward stocks.
Nearly three out of five investors, or 57.4%, believe tariffs will slow the economy and raise prices, according to a special question asked by AAII. About a fifth, or 20.4%, think they’ll have “a temporary impact but not a lasting one,” while 12.5% said tariffs “will eventually lead to a stronger domestic economy.” About 10% saw no to limited effect, or had no opinion.
— Scott Schnipper
Stock making the biggest moves after hours: GameStop, Coinbase and more
These are the stocks moving the most in after-hours trading:
- GameStop — The video game retailer and meme-stock favorite jumped 7% in extended trading. GameStop is considering investing in bitcoin and other cryptocurrencies, sources familiar with the matter told CNBC.
- Coinbase — Shares of the cryptocurrency marketplace rose nearly 1% after fourth-quarter earnings outpaced expectations.
- Airbnb — Shares soared 12%. The vacation rentals company earned 73 cents per share on $2.48 billion in revenue in its fourth quarter. Analysts had penciled in earnings of 58 cents and revenue of $2.42 billion, according to LSEG.
Read the full list of stocks moving here.
— Lisa Kailai Han