US Equity Indexes Pare Rally Gains Pre-Bell; Asia, Europe Up

MT Newswires04-10

Wall Street futures pointed lower pre-bell Thursday after Wednesday's outsized gains, including a 12.2% surge on the Nasdaq Composite, as traders again weighed prospects for world trade.

The Trump Administration on Wednesday announced a pause in new tariff schedules and hinted at trade negotiations, triggering global stock rallies.

In premarket trading, the S&P 500 fell 1.5%, the Nasdaq declined 1.9% and the Dow Jones was off 1.1%.

Asian exchanges gyrated higher overnight, with gains topping 9% on broad equity indexes in Tokyo and Taiwan. European bourses tracked up 5% or more, midday on the continent.

Though overshadowed by tariff talk, the consumer price index (CPI) for March posts at 8:30 am ET, with pundits projecting a 2.6% on-year rise by the index, and a 3% increase on the CPI-core, that strips out certain food and energy bills.

On the economic calendar, in addition to the CPI report, is the weekly jobless claims bulletin at 8:30 am ET.

The weekly EIA domestic natural gas supplies report posts at 10:30 am.

For Federal Reserve watchers there is a full day ahead, with Richmond President Thomas Barkin to speak at 8:30 am, Dallas Fed President Lorie Logan at 9:30 am, Kansas President Jeffrey Schmid at 10 am, Governor Michelle Bowman at 10 am, Chicago President Austan Goolsbee at noon, Philadelphia President Patrick Harker at noon, and Boston President Susan Collins at 4 pm.

In pre-market action, bitcoin traded at $81,699, West Texas Intermediate crude oil traded lower at $60.81, and 10-year US Treasuries offered 4.29%. Spot gold traded for $3,120 an ounce.















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