S&P 500 futures slip after touching record high: Live updates

S&P 500 futures ticked lower early Thursday as Wall Street wondered if record highs were once again in the cards.

Futures for the S&P 500 slipped around 0.2%. Dow Jones Industrial Average futures edged up 30 points, or 0.1%, while Nasdaq 100 futures lost about 0.6%.

This action comes a day after the S&P 500 set an intraday record high on Wednesday. The broad market index finished the day with a gain of 0.61%, just below its record closing high, for a third-straight winning session.

The Nasdaq Composite and Dow also rose on Wednesday, finishing up 1.28% and 0.30%, respectively. Both of those averages are within striking distance of new highs.

The stock market is getting a boost from excitement about 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 climbing more than 9% in Wednesday’s trading after reporting a blowout quarter.

“Forward earnings estimates continue to make new highs. There’s been a lot of discussion about the elections, and then post-elections and the Fed, and is the economy growing too fast or too slow. One thing that’s been remarkably resilient is forward earnings estimates, and we’re off to a good start as well,” Keith Lerner, co-CIO and chief market strategist at Truist, said on Wednesday’s “Closing Bell: Overtime.”

Investors will also get updated readings on the economy Thursday. Initial jobless claims are due out before the opening bell, followed Kansas City Fed manufacturing data later in the day.