Following the market’s conclusion of May, which was highlighted by a sharp increase in equities related to artificial intelligence, stock futures maintained stable throughout overnight trading on Wednesday.
The Dow Jones Industrial Average dropped 62 points, or 0.2%, in the futures. Both the S&P 500 and Nasdaq 100 futures were unchanged.
After its fiscal first-quarter revenues exceeded Wall Street’s estimates, Nordstrom’s stock increased 7% in extended trading. The software business raised its full-year projection, but Salesforce disclosed more capital expenses than anticipated, causing its shares to drop by approximately 6%.
The Nasdaq Composite closed May with a 5.8% increase as interest in AI-related stocks grew. The market capitalization of chipmaker Nvidia temporarily reached $1 trillion this week after rising 36% in May. Alphabet, Meta, and Amazon all experienced monthly gains of at least 10%.
Gains outside of technology, however, were scarce. The blue-chip Dow plummeted roughly 3.5% in the month, led down by Nike, Walt Disney, and Chevron, while the S&P 500 edged up 0.3%.
Source (CNBC)
