Wall Street's Major Indices Continue Positive Trend Despite Minor Futures Decline

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ICARO Media Group
Politics
21/11/2024 23h31

**Wall Street's Major Averages on Track for Gains Despite Slight Decline in Futures**

Stock futures dipped slightly on Thursday evening, signaling a potential pause following a week of gains across Wall Street's major averages. Dow Jones Industrial Average futures dropped by 37 points, marking a decline of less than 0.1%. S&P 500 futures also slipped by 0.1%, while Nasdaq 100 futures experienced the largest drop, falling by 0.2%.

These minimal declines come after a fairly successful day on Wall Street. On Thursday, the Dow Jones Industrial Average increased by about 462 points, or 1.06%, with the S&P 500 following suit with a 0.53% rise. The Nasdaq Composite, although relatively static, ended the day slightly higher by 0.03%. Nvidia shares experienced a modest climb, closing up 0.5%, after the company surpassed earnings expectations. This performance contributed to the broader optimistic outlook for the week.

It appears that all three major U.S. stock indexes are on track to close the week positively. Leading the charge, the tech-heavy Nasdaq Composite has gained 1.56% so far. This shift is notable, particularly as it contrasts with last week when Wall Street's surge post-election seemed to waver. Chief Investment Officer of Nuveen, Saira Malik, attributes this stabilization to the market's recovery from its post-election lull and the positive impact of Nvidia's earnings report.

Among other noteworthy movements in after-hours trading, Gap shares surged by 15% following an earnings beat and an upward revision in its full-year sales forecast. Conversely, Intuit's stock fell over 5% despite the company meeting expectations in its latest quarterly report.

Investors are also anticipating key economic indicators on Friday, including preliminary purchasing managers' index reports for November and an updated reading on consumer sentiment. Additionally, the crypto market remains in focus as bitcoin approaches the significant milestone of $100,000.

If current trends hold, Wall Street is set to record its second positive week in the last three. The Nasdaq Composite has risen 1.56% week-to-date, the S&P 500 is up 1.33%, and the Dow has gained 0.98% over the same period. Notably, Thursday's 1.06% climb marked the Dow's best day since November 6.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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