U.S. markets focus on tech holdings, airline earnings and jobless claims

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Highlights

Bill Ackman to discuss U.S. market outlook and technology holdings including Microsoft, Meta Platforms, Amazon, and Netflix on CNBC at 11 a.m. ET Thursday.
American Airlines and Southwest Airlines report earnings with their CEOs appearing on CNBC after both carriers see significant share declines—American down 20% and Southwest down 18% in three months.
Tesla beats earnings expectations, rebounds 9% in three days but remains 22% below its Dec. 22 high as sector focus intensifies following recent results.

Thursday market catalysts and company appearances

As reported by CNBC, producers are tracking a packed Thursday schedule after the S&P 500 posts a third consecutive day of gains, with several high-profile executives and investors set to appear on the network.

Bill Ackman is due to appear on “Squawk on the Street” in the 11 a.m. ET hour with Sara Eisen, Carl Quintanilla and David Faber. Topics on the agenda include the U.S. midterms, the upcoming election in Israel, the broader outlook for U.S. markets and artificial intelligence. Ackman's disclosed holdings mentioned in the segment include Microsoft, Meta Platforms, Amazon and Netflix.

American Airlines CEO Robert Isom is scheduled to join “Squawk Box” in the 7 a.m. ET hour after the carrier posts earnings, alongside Becky Quick, Joe Kernen, Andrew Ross Sorkin and airline reporter Phil LeBeau. Southwest Airlines CEO Bob Jordan is also set to appear in the 8 a.m. ET hour after Southwest releases its results.

The weekly initial jobless claims report is due at 8:30 a.m. ET, with the Dow Jones consensus estimate at 200,000 initial claims. Later in the day, CNBC's Lora Kolodny is expected to provide deeper coverage of Tesla and SpaceX following their earnings updates this week.

Share performance and sector focus

Recent share-price moves underline why technology and airlines remain in focus for the session. Microsoft is 4% below its October peak and up 34% over three months, while Meta is 10% below its September high and up 8% over the same period. Amazon is 8% below its August high but gains about 6% in three days, and Netflix remains 50% below the high reached a year earlier.

In airlines, American Airlines is down 20% in three months and 35% from its July high. Southwest Airlines shares are down 18% in three months and 27% from their February high, putting added attention on management commentary after earnings.

Tesla also remains a key market driver after beating earnings expectations on Wednesday. The stock is down 22% from its Dec. 22 high but rebounds about 9% over three days, while Boston Beer, due to report after Thursday's closing bell, is up 6% in three months though still 31% below its April high.

Our earlier coverage examined how the S&P 500’s rally toward the 8,000 level was being tested by the start of Q3 earnings season, with AI-linked megacaps carrying much of the index’s gains. It also highlighted key headwinds for equities—higher oil prices, elevated Treasury yields, and political uncertainty—along with concerns about market breadth and concentration risk if results from market leaders disappoint.

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