Wall Street was poised for a calm opening Thursday, according to the Associated Press, with futures for the S&P 500 essentially unchanged before the bell and futures for the Dow Jones Industrial Average losing 0.2%.
Nasdaq futures were up less than 0.1%, or essentially flat.
Markets took a dive on Wednesday as traders reacted to reports that President Donald Trump was considering terminating Federal Reserve Chair Jerome Powell but recovered when the president appeared to walk back those sentiments.
PepsiCo shares ticked up 2% before Thursday’s bell after the beverage and snack giant’s second-quarter sales and profit beat Wall Street projections.
Taiwan Semiconductor Manufacturing Co., the world’s largest chipmaker, reported massive increases in sales and profit from a year ago and sent its stock up 3.4% early this morning.
United Airlines shares fell 1.6% overnight after the carrier reported second-quarter revenue a bit lower than expected.
Shares of Archer-Daniels-Midland and Ingredion, makers of high fructose corn syrup, were also falling Thursday after Trump said Wednesday that Coca-Cola has agreed to use real cane sugar in its flagship soft drink in the U.S. — a report not yet confirmed by the company.
U.S. benchmark crude oil gained 30 cents to $66.68 per barrel. Brent crude, the international standard, rose 6 cents to $68.58 per barrel.
