Stock futures fall slightly with Wall Street on track for a winning week: Live updates

3 days ago 3

ARTICLE AD BOX

Traders work on the floor of the New York Stock Exchange at the opening bell on November 13, 2024, in New York City.

Angela Weiss | AFP | Getty Images

Stock futures edged lower on Thursday evening with Wall Street poised to end the week with gains in the three major averages.

Futures tied to the Dow Jones Industrial Average ticked down 14 points, or less than 0.1%. S&P 500 futures dipped 0.1%, while Nasdaq 100 futures were lower by 0.2%.

The moves in futures come after a modestly positive day on Wall Street.

On Thursday, the Dow rose about 462 points, or 1.06%, and the S&P 500 added 0.53%. The Nasdaq Composite was little changed, closing 0.03% higher. Shares of Nvidia closed up 0.5% after an earnings beat, as the U.S. market's biggest company was able to hold up its end of the bargain for earnings season.

All three major averages are on track for a positive week, led by the Nasdaq Composite's gain of 1.56%. That's a change from last week, when Wall Street's postelection rally appeared to stall.

"I think markets are finally finding their footing for two reasons: One is recovery from that postelection hangover after the first week, and [two is] reaction to Nvidia's earnings," Nuveen CIO Saira Malik said on "Closing Bell."

Earnings reports were driving market action in extended trading. Shares of Gap jumped 15% after the company beat earnings estimates and hiked its full-year sales guidance. However, Intuit slid more than 5% even after its quarterly report beat expectations on the top and bottom lines.

On Friday, investors will get a look at preliminary purchasing managers index reports for November, as well as an updated consumer sentiment reading.

Investors will also keep an eye on bitcoin, which is trading just under the long-awaited milestone of $100,000.

Gap, Ross Stores climb after earnings reports

Two retail stocks surged in after hours trading following their quarterly reports.

Shares of Gap climbed 15% after beating estimates on the top and bottom lines and raising its full-year sales guidance. Ross Stores popped 7% after reporting earnings per share of $1.48, ahead of the $1.40 projected by analysts, according to LSEG.

Check out more after hours movers here.

— Jesse Pound

Nasdaq, Dow and S&P 500 on track for winning weeks

Wall Street is headed for its second positive week in three across the board, if the stock market holds up on Friday.

The Nasdaq Composite is up 1.56% week to date
The S&P 500 is up 1.33% week to date
The Dow is up 0.98% week to date.

Additionally, Thursday's 1.06% rally for the Dow was its best day since Nov. 6.

— Jesse Pound, Christopher Hayes

Texas Pacific Land to join S&P 500

Energy stock Texas Pacific Land is set to join the S&P 500 next week, with current constituent Marathon Oil being officially acquired by ConocoPhillips.

S&P Dow Jones Indices announced the move as part of a series of index changes on Thursday evening. In corresponding moves, Mueller Industries will slide up to the S&P MidCap 400, and Atlas Energy Solutions will join the S&P SmallCap 600.