New York, Jan 22, 2026, 06:08 ET — Premarket
Dow Jones futures rose 61 points in early premarket action, hinting at a subdued start following a volatile two-day stretch for U.S. stocks. S&P 500 and Nasdaq futures edged up as well, with investors focused on Washington updates and the upcoming economic data.
The Dow Jones Industrial Average surged 588.64 points, or 1.21%, to close at 49,077.23 on Wednesday. The jump came after U.S. President Donald Trump announced that tariffs set for Feb. 1 would be halted, citing a framework for a Greenland deal. “The economic impact is whether we all start imposing tariffs on each other,” said Jason Pride, chief of investment strategy & research at Glenmede. Reuters
That whiplash sets the scene. In trading circles, the nickname “TACO” — short for “Trump Always Chickens Out” — is gaining ground as investors try to guess if tariff threats will hold or fall away. Markets also stay jittery over larger battles in Washington, including a probe involving Federal Reserve Governor Lisa Cook. Reuters
Thursday kicks off with key data releases. At 8:30 a.m. ET, the Bureau of Economic Analysis will roll out its updated third-quarter 2025 GDP estimate alongside revised corporate profits. Then, at 10:00 a.m. ET, personal income and outlays for October and November 2025 arrive, featuring the closely monitored PCE price index.
Jobless claims arrive at 8:30 a.m. ET. The Labor Department usually posts its weekly figures Thursday mornings, with economists expecting 209,000 initial claims this time around.
Earnings will move the market today. Procter & Gamble reports before the bell, with analysts expecting $1.86 a share. Later, traders will parse results and outlooks from firms including GE Aerospace and Capital One.
In the Dow, individual stock swings pack more punch than in market-cap weighted indexes. Since it’s price-weighted, shares with higher prices wield greater influence. The index’s level is worked out using a divisor that gets tweaked for splits and corporate moves.
Several Dow stocks have set the tone early. Travelers topped Wall Street profit forecasts this week, buoyed by stronger underwriting and investment income. CEO Alan Schnitzer expressed he’s “highly confident” in the firm’s outlook. The insurer’s combined ratio fell to 82.2%, indicating it collected more in premiums than it paid in claims and expenses. Reuters
But tariffs remain the wildcard. Trump’s sudden shift on Greenland lifted sentiment, though he shared scant details on any framework deal — leaving traders wary of fresh headline-driven swings.
Following Thursday’s batch of data and earnings, all eyes turn to the Federal Reserve’s policy meeting on Jan. 27-28. Traders are eager for any hint of a change in the Fed’s rate outlook after a week marked by political noise and volatile sentiment.
