FX.co ★ US Futures Lack Direction

U.S. futures remained relatively unchanged on Thursday, following a new record high for the Nasdaq the day before. Investors are closely monitoring ongoing trade developments, attempting to overlook new tariff threats. President Trump announced a 50% tariff on Brazilian imports, with a similar tariff on copper imports set to take effect on August 1. Economically, initial jobless claims unexpectedly dropped by 5,000 to 237,000 last week, while continuing claims climbed to 1.965 million, the highest level since 2021. This data suggests a labor market that is robust but displaying signs of cooling. In corporate news, Nvidia's shares increased by 1% in premarket trading after a 1.8% gain the day prior, which propelled its market capitalization to $4 trillion. This surge was driven by sustained enthusiasm for AI and reports about the company's intention to launch a new AI chip specifically for China. Meanwhile, Delta Air Lines experienced a jump of over 12% following the release of stronger-than-expected earnings.