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Futures up: Dow 0.25%, S&P 500 0.47%, Nasdaq 0.75%

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McCormick ( MKC ) forecasts weak annual profit on tariffs

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Procter & Gamble ( PG ) Q2 revenue is a touch shy of estimates

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November PCE figures due at 10:00 a.m ET

(Updates with prices)

By Sruthi Shankar and Pranav Kashyap

Jan 22 (Reuters) -

U.S. stock index futures climbed on Thursday, signaling

renewed buying appetite on Wall Street after President Donald

Trump ‌dialed back his threat of tariffs on European countries,

while investors shifted their focus to fresh economic data.

The main U.S. indexes rebounded ​on Wednesday, with the

benchmark S&P 500 posting its biggest one-day percentage

gain in two months, after Trump ‍stepped back from imposing

tariffs as leverage to seize Greenland, suggesting instead ⁠that

a deal was in ⁠sight to end a dispute over the Danish territory.

Trump's trade threats had sent shivers through global

markets on Tuesday, though buyers quickly ‌returned to stock

markets following his U-turn.

The CBOE Volatility ​Index, also known as Wall Street's fear

gauge, slid further from a two-month peak touched on Tuesday.

At 7:03 a.m. ET, Dow E-minis were up 125 points, or

0.25%, S&P ⁠500 E-minis were up 32.5 points, or ‍0.47% and

Nasdaq 100 ​E-minis were up 191.5 points, or 0.75%.

ECONOMIC DATA IN SPOTLIGHT

With geopolitical tensions simmering, investors are turning

their focus to a packed docket of U.S. economic readings due

later in the ‍day: final estimate of third-quarter GDP, weekly

jobless claims, and the personal consumption expenditures index

- the Federal Reserve's favored inflation gauge.

The numbers land just ahead of next week's Federal Reserve

meeting, where officials are broadly expected to stand pat on

rates amid still-sticky inflation and evidence of economic

resilience.

At the same time, markets are weighing uncertainty over

who Trump will choose to lead the central bank next. He has

renewed ​his criticism ‍of Chair Jerome Powell for not cutting

rates more aggressively and has said a decision on the next Fed

chief will come soon.

The earnings season is also picking up pace, ​and could

test market sentiment as firms detail how consumer demand, cost

pressures and a bumpy macro backdrop shaped their year-end

performance.

GE Aerospace

slipped marginally in premarket trading despite

forecasting its annual profit above estimates, while

Kinder Morgan ( KMI )

gained 0.5% after topping quarterly profit

expectations.

McCormick ( MKC )

slid 6% after projecting 2026 profit below

estimates.

Procter & Gamble ( PG ) slipped nearly 1% as its quarterly

revenue fell just short of expectations. Abbott Labs ( ABT )

reports later in the day, while chipmaker Intel