Mixed Futures and Key Economic Data Shape Thursday’s Market Outlook

Market Overview - U.S. stock futures are mixed as investors react to economic data and await comments from Federal Reserve officials, following two days of declines in major indexes due to profit-taking in technology stocks and valuation concerns [1][4][8] - S&P 500 futures are down by approximately 0.18% to 0.4%, while Nasdaq 100 futures show a decline of around 0.13% to 0.6%, and Dow Jones futures are slightly up by about 0.02% to 0.11%, indicating varied investor sentiment [2] Commodity Markets - Crude oil futures are trading lower by approximately 0.46% to 0.7%, around $64.69 per barrel, while gold spot prices have risen about 0.59% to 0.6%, nearing $3,756.88 per ounce, close to its record high [3] Economic Data and Events - Key economic data releases today include weekly jobless claims, second-quarter GDP estimates, durable goods orders, and existing home sales, with stronger data potentially affecting Federal Reserve rate cut expectations [5][6] - The upcoming release of the Personal Consumption Expenditures (PCE) index will be crucial for shaping interest rate expectations [6] Corporate Developments - Intel (INTC) shares gained 1.9% to 3% in pre-market trading as it seeks investment from Apple (AAPL) for its turnaround efforts [7] - Costco Wholesale Corp. (COST) is up 0.43% ahead of its fourth-quarter earnings report [7] - Accenture PLC (ACN) saw a 0.2% rise in pre-market after reporting fourth-quarter revenue slightly above expectations, driven by demand for AI-driven consulting services [7] - CarMax Inc. (KMX) shares initially rose 2% in pre-market but later plunged nearly 12% after missing profit targets [7] - PepGen Inc. (PEPG) shares soared 141% after announcing positive Phase 1 trial results for a treatment [11] - International Business Machines (IBM) stock rose 3.3% following a successful quantum-enabled trading trial [11] - Starbucks (SBUX) stock rose 0.2% after approving a restructuring plan to close underperforming locations [11] - Lithium Americas (LAC) rallied in premarket trading amid reports of talks with the Energy Department and General Motors (GM) regarding a government loan for a lithium project [11]