Traders work on the floor of the New York Stock Exchange during morning trading on November 26, 2024 in New York City.
Michael M. Santiago | Getty Images
U.S. stock futures were little changed on Wednesday night, which was a record day for stock prices.
Futures linked to the Dow Jones Industrial Average It fell 16 points (0.04%). on the other hand, S&P500 futures down 0.07%, Nasdaq 100 futures The stock remained down 0.1%.
In extended trading, retailers american eagle Shares fell more than 13% after the company gave a weak outlook for the holiday quarter. On the other hand, discount retailers Five Below Shares rose about 12% after a better-than-expected third-quarter report.
The average of the three major stocks posted solid gains during Wednesday's trading session. S&P500 and Nasdaq Composite A new closing record was achieved. of Dow Jones Industrial Average The closing price also exceeded 45,000 for the first time.
Tony Pasquariello, global head of hedge fund coverage at Goldman Sachs, said on CNBC's “Closing Bell” on Wednesday: “As we move past December and into 2025, there's still gas in the tank. I think it's still there,” he said. “I still think it's a bull market right now. I think the major trends are higher. If we're right about growth, if we're right about the Fed, if we're right about technology, then raw materials will make a case.” The gathering will continue. ”
This comes after an ADP report earlier Wednesday showed private payroll growth in November was weaker than expected. The number of businesses increased by 146,000 in the same month, compared with 163,000 expected by economists compiled by Dow Jones.
Investors are currently awaiting key economic data due to be released this week. New jobless claims data for the week ending Nov. 30 is scheduled to be released Thursday at 8:30 a.m. ET. In addition, non-farm employment data for November is scheduled to be released on Friday morning.
Federal Reserve Chairman Jerome Powell said Wednesday in an on-stage interview at the New York Times' Dealbook Summit that the U.S. economy is strong enough for the Fed to cautiously lower interest rates. said.
“The labor market is improving and the downside risks to the labor market appear to be decreasing,” he said. “Growth is definitely stronger than we thought and inflation is on the way.” [out] It's a little expensive. So the good news is that we can afford to be a little more cautious when aiming for neutrality. ”
The paper said federal funds futures trading suggests there is a 78% chance the central bank will cut interest rates by a quarter of a percentage point at its Dec. 17-18 meeting, but policymakers This suggests that the probability of keeping interest rates unchanged in January is close to 64%. CME FedWatch Tools.
Meanwhile, further earnings reports are expected before the bell on Thursday. dollar general, signet jewelers and kroger. hewlett packard enterprise and ulta beauty I will report in the afternoon.
