Traders work on the trading floor of the New York Stock Exchange.
New York Stock Exchange
Dow Jones futures were little changed in overnight trading Thursday following losses on Wall Street.
Futures and Dow Jones Industrial Average It fell slightly by 0.1%. S&P 500 Index Futures hovering near the flat line while Nasdaq 100 Futures were up 0.4% respectively.
Broadcom The company’s shares rose 13% after it issued stronger-than-expected first-quarter revenue guidance and reported a 220% surge in artificial intelligence revenue for the year. Home furnishing company shares relative humidity The company’s shares rose 17% on strong revenue growth guidance.
The overnight moves followed losses on Wall Street. 30 stocks Dow Chemical It fell 234 points, about 0.5%, falling for the sixth consecutive day, setting a record for the longest losing streak since April. this Nasdaq Index fell nearly 0.7% and fell below the 20,000 point mark. Technology stocks such as NVIDIA plummeted, while S&P 500 Index It fell slightly by about 0.5%.
For the week, the Dow Jones will fall 1.6%, while the S&P 500 will fall 0.6%. The Nasdaq outperformed the market and is expected to gain 0.2% during the period.
Thursday’s moves followed a November producer price index report that beat expectations. Wholesale prices rose 0.4% last month, above the Dow Jones consensus forecast of 0.2%.
Recent gains in stocks have stoked concerns among some that the post-election rally has pushed market valuations too high, but some on Wall Street believe stocks may have more room to rise.
“I think we’re in the optimistic phase, but I don’t think we’re in the euphoric phase yet,” Joe Terranova, chief market strategist at Virtus Investment Partners, said Thursday on CNBC’s “Closing Bell.” “I think, “The reason why the market can have another significantly positive year like the past two is because everyone is bullish on that fact.”
He believes it’s time for investors to focus on specific sectors rather than overall gains in the stock market.
Economic data will be light on Friday, with November import and export data due to be released soon.
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