Friday, December 1, 2023
HomeTrading RoomFollowing the Index's Longest Winning Run in Two Years, S&P 500 Futures...

Following the Index’s Longest Winning Run in Two Years, S&P 500 Futures Jump

Thursday’s small increase in S&P 500 futures came after a session that saw the broad-market index extend its winning streak to its longest since November 2021.

Along with the Dow Jones Industrial Average futures, S&P 500 futures saw a 0.1% increase. There was little change in Nasdaq-100 futures.

Arm fell 5% after releasing its first quarterly report as a public business, while Disney increased 4% after revealing higher-than-expected profit and broadening its cost-cutting plan. As reservations turned out to be lower than expected, Lyft saw a nearly 2% decline, and the ridesharing company says it expects more losses. A new share buyback programme and solid performance helped MGM Resorts rise 3% in the premarket.

A quiet but significant day on Wall Street precedes the changes. With an eight-day winning run, the S&P 500 concluded with a mere 0.1% gain, the longest since 2021. With its longest run of positive sessions in two years, the tech-heavy Nasdaq Composite managed to close the gap with a 0.08% gain on day nine. Following a seven-day streak of gains, the Dow ended the week lower by roughly 0.1%.

However, senior investment strategist Robert Haworth of U.S. Bank Wealth Management says that even with the S&P 500’s recent winning run, the market still has narrow leadership. He added that while investors evaluate the interest rate situation, technology stocks have continued to outperform.

Source (CNBC)

- Advertisment -

Most Popular

Recent Comments