Stock futures are flat as S&P 500 targets fifth winning week

Stock futures had changed little on Thursday night as the S&P 500 appeared to be crushing another positive week.

Futures for the S&P 500 were flat. Futures linked to the Nasdaq 100, the Dow Jones Industrial Average, had also changed little.

The three main averages closed slightly higher on Thursday, putting the Dow and S&P 500 on track for a potentially winning week. The S&P 500 is up just 0.08%, but that would still be the fifth positive week in a row. The Dow is up 0.71% this week and is on track for its fourth positive week in five.

The Nasdaq Composite is down 0.63% this week.

While there has been relatively moderate moves on Wall Street this week, it comes on the heels of a solid rally since mid-June.

“The market is consolidating a little bit this week, a little flip-flopping. … I think this is still a healthy market,” said Frank Gretz, a technical analyst at Wellington Shields, referring to solid forward decline rates in recent weeks. .

No major economic reports will be released Friday, but investor sentiment may be boosted by a better-than-expected earnings report and optimistic outlook from semiconductor equipment company Applied Materials on Thursday evening. The company’s stock rose about 2% in extended trading.

Add a Comment

Your email address will not be published.