07:39 AM EST, 11/06/2025 (MT Newswires) -- US equity markets were mostly pointing higher before Thursday's opening bell as investors assess the latest Supreme Court hearing on President Donald Trump's tariffs and await the latest batch of corporate earnings.

The S&P 500 and the Nasdaq edged up 0.1% each in premarket activity, while the Dow Jones Industrial Average was slightly in the red. The indexes finished the previous trading session in the green.

Supreme Court judges signaled skepticism around the legality of Trump's tariffs against most of the country's trading partners, CNBC reported Wednesday. The court was hearing arguments on whether Trump exceeded his authority under the International Emergency Economic Powers Act to impose reciprocal levies.

Solicitor General D. John Sauer, who is defending the Trump administration's tariff policy, reportedly said the duties are based on the government's authority to regulate foreign commerce.

Treasury yields declined in premarket action, with the two-year rate retreating 2.5 basis points to 3.61% and the 10-year rate off 2.1 basis points to 4.14%.

Shares of Qualcomm ( QCOM ) decreased 2.6% pre-bell as the chip supplier incurred a one-time tax charge of $5.7 billion and reported stronger-than-expected fiscal fourth-quarter results. AppLovin ( APP ) rose 6.8% while Arm (ARM) gained 5.8%.

Snap's (SNAP) stock spiked 18% after its third-quarter loss unexpectedly narrowed year over year, while the social media company announced a $400 million partnership with Perplexity to bring its artificial intelligence-powered search engine directly into the Snapchat app. DoorDash ( DASH ) fell 10% while Lyft ( LYFT ) increased 4.6% following their quarterly results.

ConocoPhillips ( COP ) , Parker-Hannifin (PH), Vistra ( VST ) , Warner Bros. Discovery ( WBD ) , Datadog ( DDOG ) , Air Products and Chemicals ( APD ) , Becton Dickinson ( BDX ) , Rockwell Automation ( ROK ) , Tapestry (TPR), Ralph Lauren ( RL ) and US Foods ( USFD ) report their latest financial results before the bell, among others.

Airbnb ( ABNB ) , Monster Beverage ( MNST ) , Take-Two Interactive (TTWO) and Block (XYZ) are expected to post earnings after the markets close.

The US federal government shutdown entered its 37th day on Thursday. The stoppage is likely to delay the release of the weekly jobless claims bulletin due today and the key nonfarm payrolls report for October on Friday.

Employment in the US private sector increased more than expected in October following two consecutive months of weak hiring, data from Automatic Data Processing (ADP) showed Wednesday.

The Challenger Job-Cut report for last month is due at 7:30 am ET. Federal Reserve Governors Michael Barr and Christopher Waller are scheduled to speak at 11 am and 3:30 pm, respectively.

New York City Fed President John Williams, Cleveland Fed President Beth Hammack, Philadelphia Fed President Anna Paulson and St. Louis Fed President Alberto Musalem are slated to speak Thursday as well.

West Texas Intermediate crude oil inclined 0.7% to $60.03 a barrel before the open. US commercial crude stockpiles unexpectedly rose last week, the Energy Information Administration said Wednesday.

Gold advanced 0.7% to $4,019 per troy ounce, while bitcoin decreased 0.8% to $103,078.