On March 21, 2024, at the New York Stock Exchange (NYSE) in New York City, the United States, a trader wore a T-shirt with the Reddit logo printed on it.
Brendan McDermid | Reuters
U.S. stock futures edged higher on Friday as traders looked to build on this week’s record gains.
Dow Jones Industrial Average Futures It rose 40 points, or 0.06%. S&P 500 Index Futures and Nasdaq 100 Futures Both rose 0.1%.
fedex Shares of the shipping company rose 13% in pre-market trading after the shipping company reported adjusted profit for its latest quarter that beat analysts’ expectations. lululemon The athleisure retailer issued weak guidance due to slowing growth in North America, sending its shares down 11%.
On Thursday, the three major stock indexes closed at record highs for the second day in a row. Major stock indexes also hit intraday record highs.this Dow Chemical rose about 0.7%, while S&P 500 Index and Nasdaq Index Increases of approximately 0.3% and 0.2% respectively. Thursday marked the fourth consecutive session of gains for all three indexes.
Art Hogan, chief market strategist at B. Riley Wealth, said one reason for market optimism may stem from the fact that policymakers at the Federal Open Market Committee expect three more inflation reports this year, even after several hot ones. Cut interest rates.
He said investors “have always been more aggressive in raising rates and more aggressive in cutting rates than the federal funds futures market, but the Fed has delivered on the dot plot and we’re finally in line.”
“You’re going to get some of the hotter inflation data points and I think actually Wall Street’s thought process has become more rational and very consistent with where the Fed is now,” Hogan added.
All three major stock indexes posted healthy gains this week, with the S&P 500 up 2.4% and the Nasdaq up nearly 2.7%. The Dow was the best performer of the three, closing nearly 2.8% higher through Thursday and on track for its best week since December.
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