Traders work during the BitGo initial public offering (IPO) on the floor at the New York Stock Exchange (NYSE) in New York, US, on Thursday, Jan. 22, 2026.
Michael Nagle | Bloomberg | Getty Images
Stock futures ticked lower Thursday night after the major averages posted back-to-back gains on easing geopolitical fears.
Futures tied to the Dow Jones Industrial Average slid 38 points, or nearly 0.1%. S&P 500 futures lost 0.1%, while Nasdaq 100 futures dropped about 0.3%.
In after-hours trading, shares of Intel dropped more than 10% after the chipmaker reported a disappointing first-quarter outlook.
The major averages rallied for a second session as investors were appeased by news of easing trade tensions and geopolitical risk. The Dow Jones Industrial Average advanced more than 300 points, or 0.6%. The S&P 500 added roughly 0.6%, and the tech-heavy Nasdaq Composite rose 0.9%. The small-cap Russell 2000 closed at a record.
Stocks began their rebound on Wednesday after President Donald Trump called off his threatened tariffs on the imports of eight European nations, set to start Feb.1. The president’s move came after Trump announced that he and NATO Secretary General Mark Rutte reached a “framework of a future deal with respect to Greenland.”
Trump had also told CNBC on Wednesday that “we have a concept of a deal” with the Arctic island. To be sure, Greenland Prime Minister Jens-Frederik Nielsen said on Thursday he doesn’t know what’s in the “framework” deal that Trump announced, and stressed that any such deal must respect Greenland’s sovereignty and territorial integrity.
“Details on the agreement are sparse and the geopolitical spat over the island could resurface, but investors are taking relief from the quick progress towards a deal following significant market turbulence at the start of the week,” said James McCann, senior economist at Edward Jones.
He also pointed to the recent surge in gold prices. Gold futures advanced more than 1% to $4,913.4, its highest settle dating back to 1980.
“Interestingly, while risk assets are rebounding, gold is holding onto most its gain over recent days, continuing a strong run for this precious metal amid increasing bouts of geopolitical uncertainty, concerns over the long-term trajectory of the U.S public finances and increasing political pressure on the Federal Reserve,” McCann added.
Gains on Wednesday and Thursday erased the Dow’s losses from earlier in the week. The 30-stock Dow is up less than 0.1% on the week. However, the S&P 500 and Nasdaq are on track for their second negative week in a row, down 0.4% and 0.3%, respectively.
