Traders work on the floor of the New York Stock Exchange during morning trading January 22, 2025 in New York.
Michael M. Santiago | Getty Images
Stock futures were flat Wednesday evening, with Wall Street poised to hit new record highs.
The future for S&P500 fell less than 0.1%. Dow Jones Industrial Average Futures fell by 5 points, or less than 0.1%, while Nasdaq 100 Futures were down about 0.1%.
The quiet moves in futures come after a Wednesday trading session that saw the S&P500 set an intraday record on Wednesday. The broader market index ended the day with a gain of 0.61%, just below its closing record, for a third consecutive winning session.
THE Nasdaq Composite And Dow also rose on Wednesday, ending up 1.28% and 0.30%, respectively. Both of these averages are near new highs.
The stock market is being boosted by enthusiasm over potential tax cuts and deregulation under President Donald Trump, as well as signs of resilient economic growth.
The fourth-quarter earnings season is also off to a strong start, with Netflix up more than 9% in Wednesday trading after reporting an explosive quarter. Air Alaska And Knight-Swift Transport were both higher after hours trading after higher profits. Reports of GE Aerospace And American airlines are expected to be released before the opening bell on Thursday.
“Forward earnings estimates continue to reach new highs. There has been a lot of discussion about the election and then the post-election and the Fed, and whether the economy is growing too fast or too much “The forward earnings estimates have been remarkably resilient, and we’re off to a good start as well,” Keith Lerner, co-CIO and chief market strategist at Truist, said on Closing Bell: Overtime” on Wednesday.
Investors will also receive updated figures on the economy on Thursday. Initial jobless claims are expected to be released before the opening bell, followed by manufacturing data from the Kansas City Fed later in the day.
