Dow Futures Slip After Jobless Claims; Trump’s $1.5 Trillion Pentagon Talk Lifts Defense Stocks
U.S. stock index futures slipped on Thursday, cooling after the S&P 500 and Dow briefly touched fresh highs a day earlier, while defense shares jumped on new budget talk from President Donald Trump. Futures contracts, which track expected moves in the cash indexes, showed the Dow, Nasdaq 100 and S&P 500 down about 0.4%, 0.3% and 0.2% in premarket trading. Alphabet was up nearly 1% after overtaking Apple for No. 2 in market capitalization — the market value of its shares — with Apple down more than 1%. Investopedia On Wednesday, the S&P 500 fell 0.34% to 6,920.93 and the Dow slid 0.94% to 48,996.08, ending lower after intraday record highs, while the Nasdaq gained 0.16% to 23,584.28 as investors rotated back into AI names. “Investors have come into 2026 with a similar playbook to last year: Buy tech and forget about it,” said Jake Dollarhide, chief executive of Longbow Asset Management. The S&P 500 is trading at about 22 times expected earnings, above its five-year average of 19, LSEG data show. Reuters