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S&P 500 futures are slightly lower as investors watch for debt ceiling updates, inflation data: Live updates – UnlistedNews

Traders on the floor of the New York Stock Exchange.

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S&P 500 futures are modestly below flat Thursday night as investors awaited signs of progress in debt ceiling negotiations and a batch of economic data that may provide insight into the path of inflation.

Broad Index futures fell 0.1%, while Nasdaq-100 futures were almost slightly below flat. Futures linked to the Dow Jones Industrial Average lost 34 points, or 0.1%.

Corporate earnings season is coming to a close, but some stocks moved in response to your reports after the bell. Retailer Gap and stock of semiconductors Marvell Technology were up more than 14% and 17%, respectively, in extended trading, while ultimate beauty fell more than 8%.

He Nasdaq Composite rose 1.7% in the Thursday session after stronger-than-expected revenue guidance and a rise in earnings from nvidia fueled a rally in semiconductor and artificial intelligence shares, as well as other tech names. Nvidia shares rose 24.4% in the session to end at an all-time high.

He S&P 500 finished 0.9% higher, while the Dow fell 0.1% due in part to a roughly 5.5% drop in Intel. Elsewhere, Best Buy Stocks rose more than 3% as investors cheered earnings that were stronger than Wall Street had expected, despite management warnings that buyers are engaging in recessionary behavior.

On a weekly basis, the Dow Jones and S&P 500 are on track for losses, down almost 2% and about 1%, respectively. The Nasdaq has a small gain of 0.3%.

Investors continue to watch for updates on the status of the debt ceiling negotiations, with the possibility of default starting June 1, according to statements by Treasury Secretary Janet Yellen. Breakthroughs were made between congressional leaders and President Joe Biden on Thursday, a Reuters report he said, and stakeholders need to agree on just $70 billion in spending.

“With market glee at NVIDIA’s earnings report and guidance, plus a positive report from Main Street’s iconic Best Buy, headlines pointing to a resolution of the debt ceiling could finally help build a stronger footing.” market wide,” said Quincy Krosby, chief global strategist at LPL Financial.

Investors will be watching on Friday for a crop of new economic data, with a specific focus on personal consumption spending given its association with the path of inflation. Data on personal income, consumer spending and sentiment, and durable goods will also be released in the morning.


Sara Marcus
Sara Marcushttps://unlistednews.com
Meet Sara Marcus, our newest addition to the Unlisted News team! Sara is a talented author and cultural critic, whose work has appeared in a variety of publications. Sara's writing style is characterized by its incisiveness and thought-provoking nature, and her insightful commentary on music, politics, and social justice is sure to captivate our readers. We are thrilled to have her join our team and look forward to sharing her work with our readers.


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