NEW YORK, NY – JANUARY 22: Traders work on the trading floor of the New York Stock Exchange during afternoon trading on January 22, 2024. The Dow and S&P both hit record highs, with the Dow closing above 38,000 points for the first time as stocks continued to rise. (Photo by Michael M. Santiago/Getty Images)
Michael M. Santiago | Michael M. Santiago Getty Images News | Getty Images
Stock index futures were little changed Thursday following a new closing record for the S&P 500 and strong quarterly results. adobe.
Futures and Market index fell 0.1%, while Nasdaq 100 Futures It fell back 0.04%. Dow Jones Industrial Average Futures It fell slightly by 0.1%, or 50 points.
In after-hours trading, shares of software giant Adobe jumped 16% after its fiscal second-quarter results beat Wall Street expectations. Adobe also raised its full-year guidance, setting the company apart from peers in the software space who have cited headwinds related to macroeconomic trends.
The stock market is having a positive session, with the S&P 500 notching its fourth consecutive record close. Technology heavy Nasdaq Index The meeting also ended with a record number of results. Hopes that inflation will continue to cool have boosted stocks this week. The S&P 500 and Nasdaq are expected to rise this week. The S&P 500 rose 1.6% and the Nasdaq rose 3.1%. The 30-stock Dow Jones Industrial Average was the only laggard, falling 0.4%.
Wholesale inflation unexpectedly fell 0.2% last month, while economists polled by Dow Jones expected the gauge to rise 0.1%. Previously, consumer prices in May were unchanged from the previous month.
“I think the soft landing is still intact, but I think if the Fed continues to impose restrictive measures,” BD8 Capital Partners CEO Barbara Doran said on CNBC’s “Closing Bell: Overtime” Too long and people start to feel uneasy and may become uneasy.
“On the face of it, the market is trading at 21 times earnings, but as far as we know, it’s a handful of stocks that would be much cheaper if you took it out of the S&P 500,” she added. “The issue now is breadth.” Market breadth measures the number of stocks advancing versus declining. When more stocks move higher, it signals an overall upward trend.
Elsewhere, shares of electric car makers Tesla The company’s shares edged higher after the company’s board approved a controversial $56 billion compensation package for Chief Executive Elon Musk.
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