By Chelsey Dulaney

Investors are juggling the implications of Trump 2.0 with AI excitement and earnings.

Stock futures edged lower early Thursday, ahead of President Trump's expected video address to Davos at 11 a.m. ET, after which he plans to take questions from European executives.

Days into his new term, Trump has reinvigorated enthusiasm about artificial intelligence with a $500 billion AI-infrastructure project, Stargate. But he has also leveled a range of tariff threats, spanning Canada, Europe, Mexico and China.

Meanwhile, earnings continue to roll in. GE Aerospace, American Airlines and Texas Instruments are among the companies expected to report results Thursday.

In recent trading:

--Stock futures ebbed. The S&P 500 closed within 0.1% of a new record on Wednesday.

--Tech stocks led losses. Nvidia, ARM and Oracle shares declined premarket after rallying Wednesday on the Stargate announcement. Elon Musk has since expressed skepticism about the project.

--Bitcoin continued to retreat. The cryptocurrency slipped below $102,000, after hitting a new intraday record above $109,000 earlier in the week.

--Treasury yields were broadly flat. The benchmark 10-year Treasury settled on Wednesday at about 4.6%.

--Overseas stocks were mostly higher. Germany's DAX index edged up after closing at a new record on Wednesday. Stocks rose in Tokyo and Shanghai, but slipped in Hong Kong.

--The yen crept higher against the dollar. The Bank of Japan is expected to raise interest rates Friday, which would boost the currency.

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(END) Dow Jones Newswires

January 23, 2025 06:08 ET (11:08 GMT)

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