Traders work on the New York Stock Exchange trading floor.
New York Stock Exchange
S&P 500 futures were hovering near the flat line Thursday night after the broader benchmark briefly climbed above 5,500 for the first time.
S&P 500 Index Futures rose slightly by 0.03%, while futures were in line with Dow Jones Industrial Average An increase of 3 points, or 0.01%. Nasdaq 100 Futures up 0.1%.
At Thursday’s regular meeting, S&P 500 Index It closed down 0.25%. The broad market index rose 0.34% to a high of 5,505.53 points on the day. this Nasdaq Index The index fell 0.79% after hitting a record high earlier in the day. 30 stocks Dow Chemical The three major stock indexes performed outstandingly, rising nearly 300 points, or 0.77%, the best single-day increase this month.
Nvidia It fell 3.5% on Thursday, pushing the information technology sector down 1.6%. Still, the chipmaker is up more than 160% year to date and briefly beat Microsoft on Tuesday to become the most valuable public company.
Harris managing partner Jamie Cox said that while there are some signs of market overextension, it is unclear whether the market has reached the limit of the artificial intelligence-driven rally that cannot continue to “increase rapidly.” “. consortium.
“The good news is that reality does not mean a market crash or such a huge decline,” he said. “It’s more of a rebalancing of the space because the valuations of these companies are just so far away from the average stock that you might see some expansion, which has been talked about for a long time.”
As of Thursday’s close, all three major stock indexes had posted weekly gains. The S&P 500 gained about 0.8%, while the Nasdaq gained 0.2%. The Dow has outperformed, rising 1.4% so far this week.
On Friday, investors will focus on June manufacturing and services PMI data. Existing home sales data for May is also expected to be released.
In terms of corporate profits, Chemax Quarterly results are scheduled to be released on Friday morning.
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