Market Update

U.S. stock futures showed little movement Thursday night following the Dow Jones Industrial Average’s return over the 50,000 mark and the S&P 500’s first close above 7,500. Investors remain tuned in to the ongoing summit between the U.S. and China.

Dow futures dipped by 27 points, or 0.05%. Meanwhile, S&P 500 futures fell by 0.04%, though the Nasdaq 100 futures rose by 0.03%.

In after-hours trading, shares of Cerebrum surged by 5% following the public debut of the artificial intelligence chip maker.

SpaceX is planning to publicly share its IPO prospectus next week after having filed secretly in April, as reported by CNBC.

Wall Street looks set for another positive day, with both the S&P 500 and Nasdaq Composite reaching record highs. The S&P 500 increased by 0.8%, while the Nasdaq saw a 0.9% rise. Meanwhile, the Dow climbed by 370 points, or 0.8%.

While stocks are climbing to new heights, enthusiasm about artificial intelligence is influencing the market. Yet, beneath the surface, many sectors are lagging behind the major tech firms, raising concerns among some investors about the stability of the current bull market.

“The growing trade has really deflated,” said Keith Lerner, head of investments at Trust Advisory Services, during Thursday’s CNBC broadcast of “Closing Bell: Overtime.” He noted subdued movements in the economy reflected across various market sectors, although technology continues to dominate, helping buoy broad indexes.

As the US-China summit wraps up on Friday, attention will remain on discussions about trade, tariffs, and geopolitical issues involving Iran and Taiwan. A U.S. announcement from White House officials confirmed that both nations have agreed on keeping the Strait of Hormuz open.

The market looks poised for a strong week, with the S&P 500 and Nasdaq Composite on track for their seventh consecutive week of gains, while the Dow is aiming for its sixth win in seven weeks.