U.S. stocks fell premarket on Thursday, retreating from a record effort as optimism about artificial intelligence faded and markets awaited more details on President Donald Trump's tariff plans.

S&P 500 futures (ES=F) fell about 0.2%, snapping a three-day winning streak and putting the benchmark index on track to close at a record high on Wednesday. Dow Jones Industrial Average futures (YM=F) were trading little changed and remained on course for a record high.

Meanwhile, Nasdaq 100 futures (NQ=F) fell 0.5% as technology stocks struggled to regain the momentum that fueled the previous day's gains. Nvidia (NVDA) shares fell in pre-market trading, as did fellow big tech companies Apple (AAPL) and Google parent Alphabet (GOOG, GOOGL).

Investors are still digesting early accusations of Trump's policy that has brought about a push for artificial intelligence that has revitalized technology companies, but it is unclear when tariffs on large trading partners - a risk for inflation and stocks - might take effect. . The focus now is on Trump's speech at the World Economic Forum in Davos later on Thursday to learn more about his "shock and awe" trade policy.

Yahoo Finance Live in Davos. Check out the latest updates from world business leaders here.

Shares of Amazon (AMZN) and Tesla (TSLA) edged lower as the tech giants shifted their operations in Canada, a key target of Trump's tariffs. The e-commerce giant will close its warehouses in Quebec, resulting in the loss of about 1,700 jobs, while Tesla plans to significantly increase the prices of all electric vehicle models sold in Canada.

After Netflix (NFLX) set the tone, all eyes are on earnings to stimulate the market. General Electric Aerospace (GE) shares jumped after jet engine maker reported strong full-year profit and announced plans to boost stock buybacks and dividends. But American Airlines (AAL) shares fell amid a downbeat 2025 earnings forecast. Quarterly reports from Texas Instruments (TXN) and Alaska Airlines (ALK) are also due Thursday.

Initial jobless claims in the United States rose by 6,000 to 223,000, according to the latest government data released Thursday morning. Economists had expected a reading of 220,000.

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