Dow Jones futures showed little change on Friday as the index aimed to extend its gains from the week, propelling the 30-stock average to new record highs.
Dow futures dipped 29 points, or 0.08%. S&P 500 futures declined by 0.07%, while Nasdaq 100 futures rose 0.1%.
The market could experience volatility as the S&P 500 and Nasdaq-100 undergo their quarterly rebalances. This rebalancing process will include the addition of Uber to the S&P 500 and DoorDash and MongoDB to the Nasdaq-100. However, concerns have been raised about the possibility of certain stocks having an excessive weighting in the indexes.
The major averages are on track to achieve their seventh consecutive positive week. As of Thursday, the Dow has gained 2.8% for the week, the S&P 500 is up by 2.5%, and the Nasdaq Composite has risen 2.5%. This performance also marks the S&P 500’s longest winning streak since 2017 and the Dow’s longest run since 2019, with the index poised for a ninth consecutive weekly gain.
Source (CNBC)
