New York City, NY – Stock futures slightly declined on Thursday evening, signaling a potential end to the week with gains in the major averages. The Dow Jones Industrial Average futures dropped 37 points, the S&P 500 futures dipped 0.1%, and Nasdaq 100 futures were down by 0.2%. These movements followed a generally positive day on Wall Street, where the Dow rose by 462 points and the S&P 500 added 0.53% with the Nasdaq Composite closing 0.03% higher.
This week, all three major indexes are set to finish positively, with the Nasdaq Composite leading the way with a 1.56% gain. This is a shift from the prior week, where the post-election rally on Wall Street seemed to stall. According to Nuveen CIO Saira Malik, markets may be steadying due to a recovery from the initial post-election period and a positive response to Nvidia’s earnings report.
Earnings reports continued to influence market performance during extended trading. Shares of Gap rose 15% after beating earnings estimates and updating its full-year sales guidance. On the other hand, Intuit’s shares dropped more than 5% despite exceeding expectations in its quarterly report. Looking ahead, investors will be eyeing preliminary purchasing managers index reports for November and an updated consumer sentiment reading, in addition to monitoring bitcoin’s movement as it nears $100,000.