07:30 AM EST, 01/22/2026 (MT Newswires) -- US equity markets were tracking higher in Thursday's premarket activity after President Donald Trump called off his tariff threats against several European nations over Greenland, while traders await delayed inflation reports for October and November.

The S&P 500 rose 0.6%, the Dow Jones Industrial Average gained 0.4% and the Nasdaq added 0.9% before the opening bell. The indexes finished Wednesday's trading session higher.

In a social media post on Wednesday, Trump said the US has "formed the framework of a future deal with respect to Greenland," following discussions with NATO Secretary General Mark Rutte. "Based upon this understanding, I will not be imposing the tariffs that were scheduled to go into effect on Feb. 1," according to Trump.

On Saturday, Trump announced that the US will impose 10% tariffs on eight European nations, including Denmark, France, Germany and the UK, at the beginning of next month. These duties were set to increase to 25% starting June.

In a speech at the World Economic Forum in Davos, Switzerland earlier on Wednesday, Trump sought "immediate negotiations" to acquire Greenland, while ruling out the use of force.

Treasury yields were down before the open, with the two-year rate retreating 0.4 basis points to 3.59% and the 10-year rate off 0.6 basis points to 4.25%.

The delayed personal income and outlays reports for October and November are scheduled to be released at 10:00 am ET. The reports, which were delayed due to the record-long federal government shutdown, include the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.

Thursday's economic calendar also has the delayed final estimate report for the third-quarter gross domestic product at 8:30 am. An initial estimate by the Bureau of Economic Analysis last month showed that the US economy grew at the fastest pace in two years in the third quarter amid robust consumer spending.

The weekly jobless claims bulletin also posts at 8:30 am, followed by the Kansas City Fed manufacturing index for January at 11 am. The weekly EIA domestic petroleum inventories report is due at 12 pm.

Procter & Gamble ( PG ) , GE Aerospace (GE), Abbott Laboratories ( ABT ) , Freeport-McMoran ( FCX ) , Huntington Bancshares ( HBAN ) , Northern Trust ( NTRS ) and McCormick ( MKC ) report their latest financial results before the bell, among others. Intel ( INTC ) , Intuitive Surgical ( ISRG ) and CSX (CSX) post earnings after the markets close.

Shares of Advanced Micro Devices ( AMD ) inclined 2.3% pre-bell after closing Wednesday up 7.7%. Moderna ( MRNA ) advanced 4.3% following a 16% jump at the previous trading session's finish. Intel ( INTC ) edged up 0.7%.

West Texas Intermediate crude oil dropped 1.4% to $59.78 a barrel in premarket action. Gold slipped 0.2% to $4,829 per troy ounce, while bitcoin decreased 0.1% to $89,826.