S&P 500 futures are flat after Wall Street notches four-day winning streak: Live updates


Traders on the floor of the NYSE, June 30, 2023.

Source: NYSE

U.S. S&P 500 futures were flat Wednesday night after the S&P 500 notched a fourth straight positive day. Traders also digested a Salesforce earnings beat after hours.

Futures for the broader index and Nasdaq 100 futures climbed 0.03% and 0.04%, respectively. Dow Jones Industrial Average futures rose by 62 points, or 0.18%.

Salesforce advanced about 6% in extended trading after the software company announced fiscal second-quarter results and third-quarter guidance Wednesday that exceeded analysts’ expectations. Those gains helped buoy Dow futures.

Investors are coming off a positive session for the major averages Wednesday, with the S&P 500 notching a four-day win streak. The broader index closed the day 0.38% higher. The Dow Jones Industrial Average added 37.57 points, or 0.11%. Meanwhile, the tech-heavy Nasdaq Composite gained 0.54%. It was also the fourth straight positive day for the 30-stock Dow and the Nasdaq.

These gains helped the major averages trim their monthly losses. The Dow and S&P 500 are each lower by more than 1% in August, while the Nasdaq is off by over 2%.

Investors digested weaker-than-expected payrolls data and annual gross domestic product growth forecast that nevertheless suggested the Federal Reserve could soon be done hiking rates, boosting equities.

“If we think about the Fed, they’re looking at growth, they’re looking at jobs and inflation. And if all three are going in their direction, meaning in their favor, then you can make a case that the Fed is probably done with tightening,” Hightower’s Stephanie Link said on CNBC’s “Closing Bell” on Wednesday.

Earnings season continues to wind down Thursday. Dollar General is set to report before the open. Broadcom and Lululemon Athletica posts results after the close.

Traders are also awaiting July personal consumption expenditures data, an inflation gauge closely watched by the Fed. Economists polled by Dow Jones are expecting a year-over-year rise of 4.2% last month, up slightly from a 4.1% increase the previous month. Weekly jobless claims data will also be out Thursday morning.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button