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Traders work on the floor of the New York Stock Exchange during morning trading on March 4, 2025.
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Stock futures are little changed Wednesday night after the major averages rebounded on hopes for concessions on President Donald Trump's tariffs.
Futures tied to the Dow Jones Industrial Average traded 13 points higher, or less than 0.1%. S&P 500 futures shed 0.01%, while Nasdaq 100 futures dipped 0.2%.
A slew of tech names tumbled in after-hours trading. Marvell Technology dropped more than 13% after posting narrow beats in the fourth quarter. Chipmakers Broadcom and Micron Technology also slid. MongoDB also sank about 16% after its full-year guidance came out well under Wall Street's expectations.
Stocks have had a volatile week so far. The three major U.S. indexes staged a comeback on Wednesday after posting back-to-back losses. The White House said that it would grant a one-month delay for tariffs on automakers whose cars comply with the United States-Mexico-Canada Agreement. This fueled traders' hopes that Trump could provide further exemptions, lifting the major averages.
The Dow Jones Industrial Average jumped about 485.60 points, or 1.14%. The S&P 500 gained 1.12%, while the Nasdaq Composite added 1.46%. All three indexes are still down more than 1% week to date even after these gains, however.
Trump announced tariffs on key U.S. trading partners Mexico, Canada and China earlier this week, which have each since announced retaliation plans, fueling uneasy sentiment.
"The pressure this week is broad based, with notable weakness in small caps and growth, while global markets continue to lead," said Mark Hackett, chief market strategist at Nationwide. "The sharp market decline and collapse in investor sentiment are being driven by the 'three-headed monster' of growth challenges, inflationary pressures, and uncertainty in D.C."
Marvell, Victoria's Secret making moves after Wednesday's close
Check out the companies making headlines in after-hours trading:
- Marvell Technology — Shares of the semiconductor solutions provider plunged about 13%. In the fiscal fourth quarter, Marvell reported adjusted earnings of 60 cents per share on revenue of $1.82 billion, while analysts polled by LSEG forecast earnings of 59 cents per share on revenue of $1.80 billion. The company also offered guidance for the first quarter that was just slightly higher than estimates.
- Zscaler — Shares of the cloud security company jumped 4% on the back of its strong quarterly financials. For its fiscal second quarter, Zscaler reported 78 cents per share in adjusted earnings on revenue of $648 million. Analysts surveyed by LSEG expected earnings of 69 cents per share and revenue of $636 million.
- Victoria's Secret — The lingerie retailer slipped 5%. Victoria's Secret said first-quarter revenue will range from $1.30 billion to $1.33 billion, while analysts polled by LESG sought $1.39 billion. Fourth-quarter revenue beat expectations, however.
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— Pia Singh
English (US)