US pre-open: Futures mixed as indices hover near record highs

(Sharecast News) - Wall Street futures were mixed ahead of the bell on Thursday as major indices continued to hover around their record highs. As of 1215 GMT, Dow Jones futures were up 0.09%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.16% and 0.52% lower, respectively.

The Dow closed 130.92 points higher on Wednesday, while the S&P 500 set a fresh intraday record throughout the session.

Comments from Donald Trump regarding potential tax cuts and deregulation remained in focus early on Thursday, giving investor sentiment a boost as a result, with traders set to zero in on a speech from the president at 1600 GMT for any further hints as to what the new administration may be planning.

Trade Nation's David Morrison said: "US stock indices have recovered from their end-of-year pullback which saw all the majors fall as bond yields jumped to twelve month highs. But since the release of a relatively benign CPI reading last Wednesday, yields have fallen significantly. Equities have reacted positively to this, dismissing the unexpectedly strong Non-Farm Payroll report from earlier this month, and once again pricing in the possibility of two 25 basis point rate cuts this year. Results from the fourth quarter earnings season are also providing a tailwind."

On the macro front, weekly jobless claims numbers will be out at 1330 GMT, while the Kansas Federal Reserve's manufacturing index will be published at 1600 GMT.

In the corporate space, GE Aerospace and American Airlines were both scheduled to report earnings prior to the open on Thursday.

Reporting by Iain Gilbert at Sharecast.com