Stock futures jump slightly higher as S&P 500 finishes at a record. On Friday, stock futures inched higher after the S&P 500 ended a winning week on a high record.
The Dow Jones Industrial Average climbed 50 points. S&P 500 futures rose 0.1% and Nasdaq 100 futures traded flat.
Disney shares added more than 5% in premarket trading following blowout fiscal third-quarter earnings reported came from the media and theme park giant.
The blue-chip Dow and the S&P 500 are expected to end out a winning week after adding 0.8% and 0.6%, respectively Thursday. Both traded at record highs. However, the tech-heavy Nasdaq Composite was down 0.1% this week.
Mixed economic data was reported on Thursday. Weekly jobless claims slide to 375,000 last week, as anticipated by Labor Department reported on Thursday. The producer price index, excluding volatile food, trade services, and energy components climbed 0.9% last month, while analysts forecasted a 0.5% profit.
“The hot PPI/home price figures took some of the sheens off the Wed CPI-induced ‘inflation has peaked party’ and this spurred very modest profit-taking in cyclical groups following two days of outperformance,” Adam Crisafulli, founder of Vital Knowledge, said.
According to Refinitiv says that the year-over-year earnings growth would come to be 92.9%. According to Refinitiv, about 90% of the S&P 500 companies have submitted their quarterly report, and about 88% of them surpass earnings estimated by Wall Street analysts.
After revealing a warning about volatility due to the Covid delta variant, shares of Airbnb dropped 4%.