In an unprecedented air disaster, an American Airlines flight collided midair with a military helicopter, making it the worst air disaster on U.S. soil in over 15 years. The tragic incident unfolded as the plane, arriving from Wichita, Kansas, carried 64 passengers. Rescuers swiftly raced to the freezing Potomac River in a bid to recover passengers, but officials have yet to confirm casualties in a press conference held early Thursday.
Meanwhile, on Wall Street, stock futures edged higher on Thursday as investors processed a fresh batch of earnings from key tech companies. The Federal Reserve's decision to maintain its key interest rate between 4.25%-4.5% was widely anticipated. However, the central bank's post-meeting statement acknowledged that "inflation remains somewhat elevated," reflecting a cautious stance on economic conditions.
Tesla shares demonstrated volatility, initially falling after missing earnings and revenue estimates but later rebounding. In contrast, Nvidia saw its shares decline by 4%, despite a recovery from its DeepSeek-triggered plunge earlier in the week. The broader market also faced downward pressure, with the S&P 500 shedding 0.47%, the Nasdaq Composite dropping 0.51%, and the Dow Jones Industrial Average losing 136.83 points, or 0.31%.
In the automotive sector, a leading company reported an 8% decline in revenue, adding to the mixed financial results from various industries. Concurrently, tech giant Apple is poised to release its first-quarter results after markets close on Thursday, keeping investors on edge.
In international business developments, SoftBank is reportedly in discussions to invest up to $25 billion in OpenAI, potentially marking a significant move in the AI sector's evolution.
The Federal Reserve expressed a positive outlook on the labor market but omitted previous language suggesting inflation progress toward its 2% target. This nuanced shift in tone reflects ongoing challenges in stabilizing economic indicators amidst fluctuating market conditions.