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CNBC
7 days ago
- Business
- CNBC
Stock futures are little changed after S&P 500 posts second day of gains: Live updates
Traders work at the New York Stock Exchange on May 9, 2025. NYSE U.S. stock futures were little changed Tuesday night, after the S&P 500 notched a second straight day of gains. Dow Jones Industrial Average futures dipped by 4 points, or 0.01%. S&P 500 futures were flat, and Nasdaq 100 futures dipped 0.04%. In extended trading, CrowdStrike Holdings shares dropped more than 6%, after the cybersecurity company posted soft guidance on revenue for the current quarter. Hewlett Packard Enterprise shares popped 3%, after the information technology company topped analysts' expectations on the top and bottom lines. Wall Street is coming off a solid session Tuesday, posting back-to-back gains. The 30-stock Dow rose more than 200 points, or 0.5%, for its fourth positive day. The S&P 500 and the Nasdaq Composite did even better, advancing 0.6% and 0.8%, respectively, bolstered by the rise in tech stocks. Nvidia rose nearly 3%, surpassing Microsoft to become the world's most valuable public company once more. The recent comeback rally has investors increasingly confident stocks have turned a corner on tariffs, especially after a series of reversals from President Donald Trump convinced traders the White House is mainly wielding high levies as a negotiating tool. A federal court striking down Trump's tariffs just last week added to hopes the market has priced in the worst of the tariffs, though they were later reinstated temporarily by an appeals court. The increasingly muted response to trade headlines has more market watchers certain there's further upside for stocks, especially with cash that remains on the sidelines, and with policy developments more favorable to equities expected later this year. This week, Deutsche Bank's chief U.S. equity and global strategist Binky Chadha raised his year-end S&P 500 forecast. "We have a quiet week, and markets are rallying," Tom Lee, head of research at Fundstrat Global Advisors, said Tuesday on CNBC's "Closing Bell." "I think the risk is now of a substantial leg-up rally from here." To be sure, others remain wary the full impact of tariff uncertainty is yet to be felt, and that upcoming economic indicators could start to show signs of softening. Investors will get further insight on the state of the labor market this week, with the ADP private payrolls report due out Wednesday, ahead of weekly jobless claims on Thursday and the big May jobs report Friday. The Federal Reserve's Beige Book will also be posted Wednesday afternoon. Earnings season also continues, with Dollar Tree reporting Wednesday morning before the open.
CNBC
04-05-2025
- Business
- CNBC
Stock futures are flat after S&P 500 notches best winning streak in 20 years: Live updates
Traders work on the floor of the New York Stock Exchange on April 29, 2025. NYSE U.S. stock futures were little changed Sunday night as Wall Street comes off a winning week, with the S&P 500 logging its longest positive streak in two decades. Futures tied to the S&P 500 fell 0.2%. Dow Jones Industrial Average futures dropped 100 points, or 0.2% and Nasdaq-100 futures ticked down 0.2%. The broad market index advanced nearly 1.5% on Friday, its ninth straight day of gains — its longest winning run since November 2004 — and managed to recover all losses incurred since April 2, when President Donald Trump announced retaliatory tariffs. The tech-heavy Nasdaq Composite gained 1.5% Friday, while the Dow industrials rose nearly 1.4%. Increasing hopes for a U.S. trade deal with major trading partners have buoyed sentiment and stocks in recent days. Chinese authorities have said they're evaluating the possibility of starting trade negotiations with the U.S. A report by The Wall Street Journal also suggested that Beijing is open to trade talks. To be sure, no trade deals between the U.S. and other countries have been announced. "We do see this run up as being more based on excitement than actual, solid — not just fundamentals, but an actual change," said Ryan Dykmans, chief investment officer at Dunham & Associates Investment Counsel. On the economic front, Wall Street will look toward the Federal Reserve's two-day policy meeting set to kick off on Tuesday. Fed funds futures trading points to just a 3.2% chance of a rate cut, according to the CME Group's FedWatch tool. Nonetheless, traders will be keeping a close eye on any commentary from the central bank or Fed Chair Jerome Powell on the outlook for the economy amid heightened uncertainty stemming from the trade war. On the earnings front, On Semiconductor, Tyson Foods and insurance company Loews are set to report quarterly results Monday before the bell.
CNBC
01-05-2025
- Business
- CNBC
Stock futures slip after Amazon and Alphabet post earnings, big jobs report looms: Live updates
Traders work on the floor of the New York Stock Exchange on May 1, 2025. NYSE U.S. stock futures slid Thursday as Wall Street digested earnings reports from two "Magnificent Seven" members and braced for a big jobs report. Futures tied to the S&P 500 slid 0.3%. Dow Jones Industrial Average futures lost 70 points, or 0.2%. Nasdaq 100 futures fell 0.5%. In extended trading, Apple slid 3% after posting fiscal second-quarter revenue from its Services division that fell short against Wall Street's estimates. The iPhone maker also said it expects $900 million in costs in the current quarter due to tariffs. Amazon dropped 2% after issuing light guidance and highlighting "tariffs and trade policies" as factors. The moves come after the major averages rose to kick off May, with the tech sector catching a tailwind after results from Meta Platforms and Microsoft helped revive the artificial intelligence trade. The 30-stock Dow added 0.2%, while the S&P 500 advanced 0.6%. Both indexes posted eight-day win streaks. The Nasdaq Composite jumped 1.5% and wiped out its losses since April 2, the day of President Donald Trump's "reciprocal" tariffs announcement. Nearly two-thirds of the S&P 500 constituents have announced their results, with 76% posting earnings that have surpassed estimates, according to data from FactSet. "I think obviously you've had some dialing back of the tariff intensity, but Q1 earnings have been at the huge driver behind the rally we've seen in the S&P 500," Adam Crisafulli, Vital Knowledge founder, said Thursday on CNBC's "Closing Bell: Overtime." Another catalyst awaits traders on Friday morning in the form of April's jobs report as investors look for further clues on the state of the U.S. economy. Economists polled by Dow Jones anticipate payrolls grew by 133,000 last month, down sharply from the 228,000 added in March. They also expect the unemployment rate to hold steady at 4.2%. The payrolls report is the latest in a blast of economic data this week, with a gross domestic product reading that showed the economy contracted 0.3% at an annualized pace in the first quarter. Private payrolls data from ADP also came in weak, and the latest weekly jobless claims ballooned to 241,000, far greater than expected. Thus far, all three major averages are on pace for their second winning week in a row. The S&P 500 is on pace to rise 1.4% this week, while the Dow is on track for a 1.6% advance. The Nasdaq is up 1.9% week to date. U.S. stock futures opened lower on Thursday night. Futures tied to the S&P 500 slid 0.3%. Nasdaq 100 futures declined 0.5%. Dow Jones Industrial Average futures inched down 55 points, or 0.1%. — Hakyung Kim
