April 24 - U.S. stock futures slid Thursday, snapping a two-day relief rally sparked by hopes of easing U.S.-China trade tensions.
S&P 500 futures edged down about 0.6%; Dow futures slipped about 0.7%; and Nasdaq 100 futures fell about 0.8.
Wednesday's gains followed softer rhetoric from U.S. President Donald Trump toward Fed Chair Jerome Powell and China. But Treasury Secretary Scott Bessent warned a full trade pact with China could take “two to three years,” with no unilateral tariff cuts on the table.
“Markets had a collective sigh of relief, unwinding tariff-driven moves,” said Jim Reid of Deutsche Bank. He cautioned that much of the optimism hinged on hopes the administration would relent further.
Investors are eyeing tech heavyweight Alphabet (GOOGL) for earnings after the close, along with Intel (INTC, Financial), American Airlines Group (AAL), and Comcast (CMCSA, Financial).
On the economic front, March durable goods orders are forecast to rise 2.1% month-on-month, while core orders may inch up 0.3%. Initial jobless claims are expected at 222,000. The Chicago Fed National Activity Index and existing home sales, projected at 4.14 million, are also due before the opening bell.
