On Wednesday night, futures for the NYSE S&P 500 experienced a slight increase following recent gains in the index, which reached all-time highs. Futures linked to the broad index rose by nearly 0.2%. Meanwhile, the Nasdaq 100 futures added over 0.2%, and the Dow Jones Industrial Average futures increased by 60 points, or 0.1%.
Stock Market Highlights
Wednesday marked the eighth day of gains for the S&P 500 out of the last nine, illustrating a strong upward trend. The Nasdaq Composite also climbed more than 1%, finishing above the significant milestone of 23,000 for the first time in history. Conversely, the Dow ended slightly lower as blue-chip stocks struggled.
Nvidia’s Role in the Market
Despite the Dow’s minor decline, Nvidia played a crucial role in limiting losses by increasing more than 2%. CEO Jensen Huang stated that demand for computing has “gone up substantially” in 2023. The performance of Nvidia underscores the shift towards technology-driven growth.
Investor Insights
Kevin Mahn, the investing chief at Hennion & Walsh Asset Management, provided insights on market sentiment during an interview on CNBC. He noted a mix of optimism and expected volatility in the market. According to him, new funds are anticipated to enter the market as this volatility unfolds.
What to Watch for Thursday
Thursday will lack significant economic data releases due to the ongoing government shutdown. However, investors will focus on remarks from Federal Reserve Chair Jerome Powell at a community banking conference. Additional speeches from Federal Reserve officials, including Michelle Bowman and Mary Daly, are also scheduled throughout the day.
Federal Reserve Meeting Insights
Recent minutes from the Federal Reserve’s latest policy meeting, released the previous day, indicated differing opinions on future interest rate strategies. Analysts will scrutinize these discussions for clues on upcoming monetary policies.
Upcoming Earnings Reports
- Delta Air Lines
- PepsiCo
Both companies are set to release their earnings reports before market opening, offering additional insights into the economic landscape.
