US stock futures wavered just above the flatline with President Trump's trade deadline fast approaching.
Futures attached to the Dow Jones Industrial Average (YM=F) ticked up 0.1%. Futures attached to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) rose 0.2%.
Trump's deadline for trade deals lands at 12:01 a.m. ET on Thursday. The president has teed up sweeping tariffs to hit dozens of countries that have so far not negotiated trade agreements with the US, saying there are no plans to further delay hiking rates this time.
Read more: The latest on Trump's tariffs
Apple (AAPL) shares climbed Wednesday afternoon as Trump and CEO Tim Cook announced the company would make a $100 billion investment in the US. As part of the deal, Apple will manufacture the cover glasses for iPhones and Apple Watches in Kentucky.
The president also said at the press conference that he will eventually set a 100% tariff on semiconductors, but companies like Apple that commit to building in the US will be exempt from the tariff.
Airbnb (ABNB), DoorDash (DASH), and Lyft (LYFT) reported earnings after the bell. DoorDash shares jumped on an upbeat forecast driven by resilient delivery demand. Airbnb and Lyft, meanwhile, fell on disappointing guidance.
Stocks gained in day trading on Wednesday, buoyed by a slate of earnings that beat Wall Street expectations, including McDonald's (MCD) and Disney (DIS). The lead up to Apple's announcement of fresh investment in the US also boosted its stock and sent the Nasdaq higher.
On Thursday, in addition to grappling with the latest trade policy shifts, Wall Street will receive new data on weekly jobless claims. The state of the labor market is in high focus following a disappointing July jobs report and downbeat revisions to the May and June jobs reports.
Coming soon
Stock market coverage for Thursday, August 7, 2025.
