Stock futures ticked higher Wednesday, a day after major equities indexes recorded their worst day in three months, while safe-haven gold hit a fresh record.
S&P 500, Dow Jones Industrial Average, and Nasdaq 100 futures were up a respective 0.2%, 0.1%, and less than 0.1%.
Yesterday, the tech-heavy Nasdaq, benchmark S&P 500, and blue-chip Dow Jones Industrial Average sank a respective 2.4%, 2.1%, and 1.8%—their worst day since Oct. 10—with the Dow shedding 870 points, after President Donald Trump threatened to impose new tariffs on eight NATO allies for opposing his desired sale of Greenland to the U.S.
On Wednesday, Trump is expected to speak on housing affordability at the World Economic Forum in Davos, Switzerland, where he said he also would meet with “various parties” about Greenland.
Safe-haven gold futures rose to a fresh all-time high of nearly $4,900 an ounce early Wednesday. The yield on the 10-year Treasury, which impacts interest rates on a variety of consumer loans including mortgages, ticked below 4.29% after closing at 4.30% Tuesday.
Bitcoin was trading around $89,200, slightly lower on the day. The U.S. dollar index, which tracks the value of the greenback against a basket of global currencies, was little changed at 98.68. West Texas Intermediate crude futures, the U.S. benchmark, slipped 0.4% to about $60.15 a barrel.
Big tech stocks rebounded modestly in premarket trading after leading declines Tuesday. The Magnificent Seven firms—in order of market capitalization, Nvidia (NVDA), Alphabet (GOOGL), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), and Tesla (TSLA)—all closed down between 1.2% and 4.3% yesterday, while chipmaker Broadcom (AVGO) was nearly 5.5% lower.
In post-earnings moves, shares of Netflix (NFLX) sank almost 7% before the bell, while those of Johnson & Johnson (JNJ) fell 3% and United Airlines (UAL) rose 4%.