U.S. stock futures held steady after Google parent Alphabet (GOOG, GOOGL) reported strong earnings, with Wall Street rising for a third straight day on renewed hopes for a trade deal.
Futures for the Dow Jones Industrial Average (YM=F) were trading flat. Futures for the benchmark S&P 500 (ES=F) rose 0.4%. Futures for the tech-heavy Nasdaq Composite (NQ=F) rose 0.5%.
Shares of Alphabet rose Thursday after the company reported earnings that beat expectations and announced a dividend hike and a $70 billion share buyback plan. The Google parent was the first major tech company to report earnings since Trump’s tariffs took effect this month.
Earlier in the day, stocks rose as investors focused on Trump’s optimistic tone on trade talks. Treasury Secretary Scott Bessant said a deal with South Korea could be reached sooner than expected, while Trump touted progress in talks with India.
However, U.S.-China trade relations remain elusive. Although the president has said that talks are ongoing with China, China has denied the existence of negotiations and demanded that the United States remove its tariffs on China.
On Friday, the University of Michigan will release its latest consumer survey, which will give investors a glimpse into the direction of consumer confidence. Consumer confidence continues to decline as inflation expectations rise due to Trump’s trade war.
