The major indexes remain at or near record highs while navigating a plethora of catalysts, including earnings, economic data, tariffs, and Trump-Powell drama.

Key economic data are on tap early Thursday. The Nasdaq hit a record close Wednesday as stocks ultimately shrugged off a Trump-Powell report.

(Reuters) -Futures tracking the S&P 500 and the Nasdaq fell on Wednesday as signs that U.S. tariff policies were clouding corporate outlooks and spurring inflation weighed on record-high markets. U.S.

The major U.S. index futures traded modestly lower early Wednesday after a lackluster performance in the previous session. More inflation data is on the horizon, even as traders await clarity on the tariff front and anxiously hope for a healthy second-quarter earnings season.

The S&P 500 and Nasdaq futures dropped, impacted by U.S. tariff policies and rising inflation concerns. Semiconductor stocks and financial earnings remain under scrutiny. Investors keenly watch upcoming producer prices data for further inflation insights amidst ongoing trade tensions and potential Federal Reserve rate decisions.

ASML dived on guidance before the openOn Tuesday, Nvidia, AMD and CoreWeave jumped on AI news, but masked broader stock market weakness.