FX.co ★ US Futures Hold Steady After Two-Day Rally

U.S. stock futures showed minimal movement on Thursday following a notable two-day rally driven by easing trade tensions between the U.S. and China, along with diminishing worries regarding the Federal Reserve's autonomy. In Wednesday's session, the Dow Jones Industrial Average climbed by 1.07%, the S&P 500 rose by 1.67%, and the Nasdaq Composite saw a significant increase of 2.5%. These gains occurred after President Trump indicated a potential reduction in tariffs on Chinese imports, which currently stand at a significant 145%. Additionally, he reassured investors of his commitment to keeping Fed Chair Powell in place, alleviating concerns about the central bank's independence. Nevertheless, the key indexes retreated from their session highs after Treasury Secretary Bessent clarified that no unilateral tariff reductions had been proposed by Trump and that discussions with China had not yet commenced. In corporate developments, IBM shares dropped nearly 7% in after-hours trading following the company's announcement that it would maintain its full-year guidance, falling short of investor expectations for an upgrade.