Stock market today: US futures muted as S&P 500 closes in on 5,000 landmark
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US stock futures edged lower on Thursday as investors cheered chipmaker Arm's outlook and looked for fresh impetus in the latest batch of corporate results. S&P 500 futures slipped 0.1%, after the major benchmark closed just a few points shy of hitting 5,000 for the first time ever. Dow Jones Industrial Average futures were just below the flatline, while those on the tech-heavy Nasdaq 100 dipped 0.2%. Shares in Arm soared over 25% in premarket trading, boosting hopes that AI and techs will keep buoying the market. Disney shares rose almost 8% as investors welcomed its earnings beat and deals with Taylor Swift and Fortnite maker Epic Games. Danish shipping giant Maersk's warning about a freight slowdown rattled investors, with its shares slumping 15% after the company said it will suspend share buybacks. Consumer prices in China fell by the most since 2009 amid the global financial crisis. Traders have scaled back on bets on a March interest rate cut thanks to caution from central bank officials. Richmond Fed president Tom Barkin is set to add his comments on Thursday, while the weekly jobless claims report due later could also move the needle on policy expectations given December's blockbuster jobs report.
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