The stock futures exhibited little change on Wednesday as market participants observed the S&P 500’s progress towards reaching record levels.
The futures linked to the S&P 500 experienced a minor decline, just like the Nasdaq-100 futures, while the Dow Jones Industrial Average futures only dropped by 7 points.
These movements come after a successful day on Wall Street, marking the commencement of the final trading week of 2023. The stock market remained closed on Monday for the Christmas Day holiday.
The S&P 500’s recent gain brought it within 0.5% of its previous closing record of 4,796.56, established in January 2022. Similarly, the Nasdaq-100 reached an all-time high in the preceding session.
These achievements contribute to what has already been a strong year for the stock market. With only three trading sessions remaining in 2023, the Dow and S&P 500 are expected to conclude the year with gains of 13% and 24% respectively. Furthermore, the Nasdaq Composite has surged by 44%, displaying impressive performance amidst the revival of large-cap technology companies and the popularity of artificial intelligence. This tech-focused index is also on track to achieve its largest annual increase since 2003, when it soared by 50%.
Source (CNBC)
