Stock futures edged lower Thursday premarket after President Donald Trump announced a 90-day pause on higher tariffs for select countries. However, the pause excludes China. The U.S. hiked tariffs on Chinese imports to 125% on Wednesday, with Trump citing a “lack of respect” after China responded with its own retaliatory measures, fueling concerns over escalating trade tensions.

Here are some of Thursday's biggest stock movers:

Biggest stock gainers

• Trump Media (NASDAQ:DJT) +7% – Shares extended gains Thursday morning after a double-digit surge Wednesday, when the stock jumped as much as 22.4%, ranking among the top gainers in the communications services sector. The rally followed a Truth Social post by Donald Trump stating, “THIS IS A GREAT TIME TO BUY!!! DJT,” just hours before he announced a 90-day pause on the reciprocal tariffs he unveiled earlier this month. Volume topped 14.45M shares, more than twice its 3-month average. Short interest stands at 5.47%. Year to date, DJT is down 49%, compared to a 7% drop in the S&P 500 (SP500).

Biggest stock losers

• Constellation Brands (NYSE:STZ) -4% – Shares slipped despite a Q4 beat, as the company’s FY2026 outlook disappointed investors amid trade policy uncertainty. FY26 EPS guidance of $12.60–$12.90 came in well below the $13.94 consensus, while organic net sales are expected to range from -2% to +1%. The company also cut its FY27–FY28 sales growth forecast to flat to +3% (from +1% to +3%). Constellation targets FY26 operating cash flow of $2.7–$2.8B and free cash flow of $1.5–$1.6B. It also plans to divest its mainstream wine brands to The Wine Group and will review its organizational structure, aiming for over $200M in annualized cost savings by FY28.
• U.S. Steel (NYSE:X) -11% – Shares plunged after President Donald Trump reiterated his opposition to the company's acquisition by Japan’s Nippon Steel, despite previously suggesting openness to a minority stake. “We love Japan, but U.S. Steel is a special company,” he stated. The stock had earlier surged to a 52-week intraday high of $46.18 following Trump’s call for a national security review of the deal, but momentum reversed sharply on renewed takeover concerns.