Traders work on the floor of the New York Stock Exchange (NYSE) on August 8, 2024 in New York City.
Spencer Pratt | Getty Images
Stock index futures edged higher Thursday night after investors recovered some losses from this week’s selloff.
Futures and Dow Jones Industrial Average Advance 9 points, or just above flatline. S&P 500 Index Futures increased by nearly 0.1%, while Nasdaq 100 Futures Up about 0.2%.
In after-hours trading, Paramount Worldwide Shares rose more than 5% after posting an adjusted profit that topped expectations and announcing it was cutting 15% of its U.S. workforce. Elf beauty It fell about 10.5% after issuing cautious guidance.
Stocks rebounded in regular trading on Thursday after plunging earlier in the week, as the latest weekly jobless claims figures helped ease investor concerns about the strength of the labor market and the health of the U.S. economy.
The S&P 500 closed 2.3% higher on Thursday, its best day since November 2022, while 30 stocks Dow Chemical It soared by about 683 points, nearly 1.8%. The Nasdaq, which is dominated by technology stocks, rose 2.87%.
Investors have been trying to regain market momentum this year after disappointing U.S. jobs data on Friday, concerns over the Fed’s timetable for rate cuts and the unwinding of yen carry trades triggered a sharp global sell-off on Monday.
Investors appear to be buying the dip, viewing this pullback as a fairly healthy correction.
“The fundamental backdrop remains favorable for stocks higher, especially for investors with investment horizons extending to year-end and beyond,” said Terry Sandven, chief equity strategist at U.S. Bancorp Wealth Management. “In the short term, volatility Heightened volatility may be more the rule than the exception as broad market valuations remain elevated and seasonal trends point to lower returns during the ‘dog days of summer.’
Although major stock indexes surged on Thursday, they are still in the red so far this week. The S&P 500 is down 0.5% for the week, while the Nasdaq and Dow Jones are down about 0.7%. The S&P 500 and Nasdaq were both set for their fourth straight weekly loss.
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