U.S. stock opened in the green on Thursday morning, with major indexes climbing. Tech was leading the rally, with the Nasdaq gaining 0.8%.
The S&P 500 rose 0.6% and the Dow Jones Industrial Average added 220 points, or 0.5%.
President Donald Trump is expected to announce a trade deal Thursday with the United Kingdom— his first since April’s sweeping “Liberation Day” tariffs. The agreement will reportedly ease U.S. duties on British steel and autos, while the U.K. pares back its digital services tax on American tech firms. It’s not a full-blown free trade pact, nor a breakthrough considering it looks to roll back recently imposed rules, but could hint at how Trump’s broader tariff strategy is evolving.
In other White House news, Trump is also expected to roll back and replace Biden-era AI chip rules.
Markets are absorbing Federal Reserve Chair Jerome Powell’s latest remarks. The central bank announced Wednesday that it will hold interest rates steady, with Powell taking a wait-and-see stance.
While the job market remains healthy and core inflation is easing, tariffs are introducing new economic uncertainty, Powell said. He made it clear the Fed is in no rush to shift course, emphasizing the need for more data — especially on how tariff-driven price pressures play out.
Elsewhere, central banks abroad are cutting rates, but they’re not contending with the exact same inflationary wildcards.
On Wednesday, Alphabet (GOOGL) shares fell 7% on reports that Apple (AAPL) may integrate AI tools like ChatGPT and Perplexity into Safari, threatening Google’s dominance as the browser’s default search engine.
During federal antitrust testimony, Apple executive Eddy Cue said Safari search volume had declined for the first time — signaling that users are already shifting toward AI alternatives. With Google paying Apple an estimated $20 billion a year for default status, the news rattled investors and sparked fresh concerns about Alphabet’s long-term search moat.
Apple shares fell 2% on the same news, but both Apple and Alphabet are gaining ahead on Thursday, with Alphabet up 1.6% and Apple edging higher, too.
AB InBev (BUD) kicked off the earnings day with a solid report. The brewer posted nearly 8% EBITDA growth and stronger margins, even as volumes slipped 2.2% due to tough comps and weather.
Megabrands like Corona — up 11% outside its home market — led the way, while no-alcohol and direct-to-consumer sales also notched meaningful gains. The company reiterated its 2025 outlook and emphasized ongoing investments in premium products and digital platforms.
Shopify (SHOP) reports before the bell today. Energy majors ConocoPhillips (COP) and Cheniere Energy (LNG) also announce earnings today, alongside Canadian Natural Resources (CNQ) and Brookfield (BAM), offering a look at global demand, margins, and infrastructure amid falling oil prices.
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