Stocks may fall on Thursday after President Donald Trump imposed 25% tariffs on imported autos Wednesday evening and equities mostly declined in Europe. Futures linked to the S&P 500 and the Nasdaq 100 fell, and those tied to the Dow Jones Industrial Average wavered.
General Motors (GM) stock fell 5.9% premarket, Stellantis (STLA) shares declined 1.3%, while Ford (F) gained 0.3%. Volkswagen’s (VWAGY) European-traded stock declined about 2%, and Nissan Motor (NSANY), Toyota (TM) and Honda (HMC) all fell about 2% in Japanese trading.
Investors have been watching economic indicators for further signs that U.S. growth may be softening, as shown by manufacturing PMI and consumer confidence numbers earlier this week.
On Thursday, initial jobless claims for the seven days through March 15, due at 8:30 a.m. EDT, may have picked up to 226,000 from 223,000 the prior week, economists surveyed by StreetAccount projected. Continuing claims were probably little changed at about 1.89 billion.
Indicators due today also include preliminary wholesale inventories at 8:30 a.m. EDT and pending home sales data 10 a.m., both for February.
Some stocks that may be active:
Concentrix (CNXC) stock jumped 8.3% in pre-opening trading after the outsourcing company’s quarterly earnings per share of $2.79 exceeded expectations by about 8.1%.
Jefferies (JEF) stock fell more than 2% premarket after the investment bank’s quarterly earnings missed expectations, with revenue 14.5% below the StreetAccount consensus forecast and earnings per share 39% lower.
Lululemon (LULU) is scheduled to post fiscal fourth-quarter results post-market on Thursday, with earnings per share expected to rise to $5.85 from $5.28 a year earlier on projected total sales of $3.58 billion, according to the StreetAccount consensus. Same-store sales growth may have been 5.4% year over year. The stock edged down 0.4% before the open.
Nvidia (NVDA) stock slid 1.6% in pre-opening trading today after dropping 5.7% yesterday. Beijing has asked firms in China to use energy-efficient chips in new data centers and those that are being expanded, the Financial Times reported on March 25, citing documents it viewed.
Walgreens (WBA)’ stock was little changed premarket pending release of the company’s quarterly earnings, due later today.
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