U.S. stock futures are trading mixed on Thursday, September 25, 2025, as investors digest a flurry of economic data and brace for remarks from multiple Federal Reserve officials. The cautious sentiment follows two consecutive days of declines for the major U.S. indexes, driven by profit-taking in technology stocks and concerns over valuations.
Premarket Trading Activity and Futures Movements
As of early Thursday, futures tied to the S&P 500 (SPX) are slightly down by approximately 0.18% to 0.4%, while Nasdaq 100 (NDX) futures show a decline of around 0.13% to 0.6%. In contrast, Dow Jones Industrial Average (DJIA) futures are largely flat to slightly up by about 0.02% to 0.11%, indicating a divergence in investor sentiment across different market segments. This mixed premarket activity suggests ongoing uncertainty as traders await further catalysts.
Commodity markets are also seeing movement, with crude oil futures trading lower by approximately 0.46% to 0.7%, hovering around $64.69 per barrel. Gold spot prices have risen about 0.59% to 0.6%, nearing $3,756.88 per ounce, close to its last record high of $3,788.33. The U.S. Dollar Index is down slightly by 0.08% at 97.7833.
Major Market Indexes: Yesterday's Performance
On Wednesday, the major U.S. stock indexes concluded the session lower for the second consecutive day. The Dow Jones Industrial Average (DJIA) fell 0.37% or 171.50 points, closing at 46,121.28. The S&P 500 (SPX) declined 0.28% and the Nasdaq Composite (IXIC) slipped 0.33%. This downturn was largely attributed to profit-taking, particularly in technology stocks, following Federal Reserve Chair Jerome Powell's remarks that stocks are "fairly highly valued."
Upcoming Market Events
Today is a busy day for economic data releases, which are expected to provide crucial insights into the U.S. economy and potentially influence the Federal Reserve's monetary policy decisions. Investors are closely watching the weekly jobless claims data for the week ending September 20, the third estimate of the second-quarter GDP, August's durable goods orders, and existing home sales reports. Stronger economic data, such as the unexpectedly high new home sales data released on Wednesday (800,000 units, significantly above estimates), could temper expectations for rapid Fed rate cuts.
Furthermore, several regional Federal Reserve officials are scheduled to speak throughout the day, offering their perspectives on the economy and monetary policy. Looking ahead, Friday's release of the Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation measure, will be pivotal in shaping interest rate expectations.
Major Stock News and Developments
Several companies are making headlines with corporate announcements and earnings reports.
- Intel (INTC) shares gained 1.9% to 3% in pre-market trading, extending Wednesday's rally. This surge follows reports that the chipmaker is seeking an investment from Apple (AAPL) as part of its turnaround efforts.
- Costco Wholesale Corp. (COST) is up 0.43% in pre-market ahead of its fourth-quarter earnings report, scheduled to be released after markets close on Thursday.
- Accenture PLC (ACN) saw its stock rise 0.2% in pre-market after reporting fourth-quarter revenue slightly above expectations, driven by strong demand for its AI-driven consulting services.
- Other companies reporting earnings before market open include Jabil Inc. (JBL), up 2.31% pre-market, TD Synnex Corp. (SNX), soaring 2.43% pre-market, and CarMax Inc. (KMX), up 2% pre-market. CarMax, however, later plunged nearly 12% in premarket after missing Wall Street's second-quarter profit targets. BlackBerry Limited (BB) and LuxExperience B.V. (LUXE) are also scheduled to report earnings today.
- From yesterday's after-market reports, THOR Industries Inc.'s (THO) shares surged 6.1% after beating earnings estimates, while Worthington Enterprises Inc.'s (WOR) shares plunged 11.6% after missing expectations. Uranium Energy Corp. (UEC) fell 1.2% after reporting a wider-than-expected loss, and AAR Corp. (AIR) advanced 4.2% after beating estimates.
- Technology stocks like Oracle (ORCL), Nvidia (NVDA), Micron Technology (MU), and Tesla (TSLA) were trading lower in premarket, continuing a sell-off driven by valuation concerns. Oracle announced plans to raise $18 billion in debt to finance its AI buildout.
- PepGen Inc. (PEPG) shares soared 141% in pre-bell trading after the company announced positive Phase 1 trial results for a myotonic dystrophy treatment.
- International Business Machines (IBM) stock rose 3.3% after HSBC successfully completed the world's first quantum-enabled algorithmic trading trial using IBM's quantum computing technology.
- Starbucks (SBUX) stock rose 0.2% after approving a restructuring plan that includes closing underperforming coffee houses to revive sales and profits.
- Lithium Americas (LAC) rallied in premarket trading as it is reportedly in talks with the Energy Department and General Motors (GM) regarding a government loan for a lithium project in Nevada.
The market remains in a state of flux, balancing strong economic data against concerns over inflation and high valuations, all while awaiting further guidance from the Federal Reserve. Investors will continue to monitor economic reports and corporate earnings throughout the day and into Friday's PCE index release for clearer direction.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.