Editor’s Note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.
U.S. stock futures dropped on Thursday following Wednesday’s mixed close. Futures of major benchmark indices were lower.
The initial jobless claims rose to 235,000 in the week ending Aug. 14, just above the 226,000 consensus forecast.
The August 2025 Philadelphia Fed Manufacturing Business Outlook Survey weakened this month. The current general activity index fell to a near-zero reading, the new orders index dipped into negative territory, and the shipments index also declined but remained positive.
The three-day Jackson Hole Economic Policy Symposium begins today, with the Federal Reserve Chair Jerome Powell‘s speech expected on Friday. The theme for the 2025 symposium is “Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy.”
Meanwhile, President Donald Trump intensified his campaign to reshape the Federal Reserve on Wednesday, demanding that Governor Lisa Cook resign over mortgage fraud allegations while the Justice Department reviews the case. Trump wrote, “Cook must resign, now!!!” on Truth Social.
After Home Depot Inc. (NYSE:HD) and Target Corp.‘s (NYSE:TGT) earnings, investors await retail giant Walmart Inc.‘s (NYSE:WMT) earnings, which are scheduled to be released today.
The 10-year Treasury bond yielded 4.30% and the two-year bond was at 3.76%. The CME Group’s FedWatch tool‘s projections show markets pricing an 81.2% likelihood of the Federal Reserve cutting the current interest rates for the Sept. 17 decision.
| Futures | Change (+/-) |
| Dow Jones | -0.25% |
| S&P 500 | -0.11% |
| Nasdaq 100 | -0.02% |
| Russell 2000 | -0.33% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. The SPY was down 0.34% at $635.96, while the QQQ declined 0.34% to $563.98, according to Benzinga Pro data.
Cues From Last Session
Energy, health care, and consumer staples stocks recorded the biggest gains on Wednesday, leading most sectors on the S&P 500 to a positive close.
However, information technology and consumer discretionary stocks bucked the trend, as U.S. stocks settled mostly lower with the Nasdaq Composite falling more than 100 points.
The Federal Reserve indicated that inflation risks remain “considerable” due to uncertain trade tariff impacts, casting fresh doubt over imminent interest rate cuts, according to its July minutes. — https://www.benzinga.com/news/politics/25/08/47244480/federal-reserve-outlook-interest-rates-july-meeting-minutes-markets
Shares of Palantir Technologies Inc. (NASDAQ:PLTR) fell 1%, its worst two-day slump since …