U.S. stock index futures slipped on Thursday as a rally fueled by the U.S.-China tariff truce appeared to ease, while UnitedHealth fell after a report of a DoJ investigation into the health insurer.

Investors will also focus on comments from Federal Reserve Chair Jerome Powell due later in the day.

Market Snapshot

At 8:02 a.m. ET, Futures tied to the S&P 500 were down 0.4%, while Nasdaq-100 futures dropped 0.6%. Dow Jones Industrial Average futures fell 144 points, or 0.3%. PDD Holdings Inc, JD.com fell 3%.

Pre-Market Movers

UnitedHealth fell 6% following a report from The Wall Street Journal that said the Justice Department was investigating the company for possible Medicare fraud. The healthcare-fraud unit of the department was overseeing the investigation that has been active since at least last summer, the Journal reported, citing people familiar with the matter. Sources said the federal investigation was focusing on the company's Medicare Advantage business practices.

Foot Locker soared 83% in premarket trading after it was confirmed that Dick's Sporting Goods would be buying the sneaker company for $24 a share or $2.4 billion. Foot Locker closed Wednesday at $12.87. The shares have declined, coming into Thursday, 41% this year. Dick's declined 8% in premarket trading.

SUPER MICRO COMPUTER INC was down 2% in premarket trading. Shares of the artificial-intelligence server maker closed at $44.99 on Wednesday, up 16%. It has risen for three straight sessions and has gained 41% over the span, according to Dow Jones Market Data. Boosting the stock this week has been positive analysts' coverage and a $20 billion deal with Saudi Arabian data center company DataVolt.

Cisco boosted its fiscal-year sales outlook after reporting better-than-expected fiscal third-quarter adjusted earnings as revenue rose 11% from a year earlier to $14.15 billion. Cisco said it now expects fiscal-year revenue of $56.5 billion to $56.7 billion, up from a prior outlook of $56 billion to $56.5 billion. "The momentum we are seeing with AI is fueled by the power of our secure networking portfolio, our trusted global partnerships, and the value we bring to our customers, " said CEO Chuck Robbins. Shares of the networking and security company rose 3%.

CoreWeave, Inc., the AI-focused data-center operator, was down 5% in the premarket session. The company posted first-quarter revenue of $981.6 million, up 420% from a year earlier and better than analysts' expectations of $857 million, but said it anticipates capital spending for the year of between $20 billion to $23 billion, higher than Wall Street estimates. The company posted a quarterly loss of $1.49 a share, wider than a year-earlier loss of 62 cents. It was CoreWeave's first quarterly report since going public in late March.

Fintech eToro Group Ltd. was down 2% in premarket trading after soaring in its trading debut Wednesday. The stock opened at $69.69 and closed at $67, up 29% from eToro's initial public offering price of $52 a share.

Market News

Alibaba Misses Revenue Estimates as It Fights for China E-Commerce Market Dominance

Chinese e-commerce giant Alibaba reported quarterly revenue that missed Wall Street estimates on Thursday, as the company works on new strategies to keep consumers spending amid persistent economic weakness and global trade uncertainties.

U.S.-listed shares of the company fell more than 5% in premarket trading. They have risen about 58% so far this year.

Chinese shoppers, grappling with a prolonged property crisis and a cloudy economic outlook, have increasingly become cost-conscious, prompting deep discounts and rock-bottom prices to stimulate spending.

That has sparked a price battle among China's largest online e-commerce platforms including Alibaba, PDD Holdings' Pinduoduo and JD.com, as they jostle for market share.

Walmart Warns of Higher Prices, Withholds Second-Quarter Profit Guidance

Wal-Mart will have to start raising prices later this month due to the high cost of tariffs, executives said on Thursday, even as the retailing giant's U.S. comparable sales surpassed expectations in the first quarter.

Shares of the Bentonville, Arkansas company rose 1% in pre-market trading. Its stock is up more than 60% over the past year.

Trump Asks Apple to Stop Moving iPhone Manufacturing to India

U.S. President Donald Trump urged Apple's CEO Tim Cook to stop building facilities in India, targeting the company's intention to diversify its manufacturing footprint beyond China.

“I had a little problem with Tim Cook yesterday,” said Trump about his discussion with Cook in Qatar, part of his Middle East visit this week. “He is building all over India. I don’t want you building in India.” As a result of their conversation, Trump said Apple will be “upping their production in the United States,” Bloomberg News reported.

Trump noted that India has one of the highest tariff barriers in the world and it is difficult to sell U.S. goods in the country. Trump added that India has made an offer to reduce tariffs on U.S. goods, as the country eyes an agreement on import taxes, the report noted.