Stock futures are on the rise Friday as investors aim to capitalize on the strong performance led by the technology sector in the previous session.
Futures tied to the S&P 500 have gained 0.4%, while Dow Jones Industrial Average futures have climbed 161 points, or 0.5%. Nasdaq 100 futures have also seen a rise of 0.7%.
On Thursday, stocks experienced a significant surge, with both the S&P 500 and Nasdaq eliminating their losses from 2024. As of Thursday’s close, the S&P 500 was only 0.3% away from its previous recorded high in January 2022, and less than 1% away from a new intraday record. If the positive momentum from morning futures continues, the benchmark could achieve a new record high by the end of Friday’s trading session.
The notable gains on Thursday were largely driven by advancements in the technology sector, following the upgrade of Apple shares to a buy rating by Bank of America. Apple recorded its largest one-day gain since May 5, 2023. Notably, these gains occurred despite the rise in the benchmark 10-year Treasury yield.
Source (CNBC)
