Stock futures are little changed after S&P 500, Nasdaq notch best day in more than a year: Live updates

Stock futures are little changed after S&P 500, Nasdaq notch best day in more than a year: Live updates

Traders on the floor of the NYSE, July 6, 2023.

Source: NYSE

Stock futures were little changed on Thursday evening, after the S&P 500 and the Nasdaq Composite posted their best day since early 2023.

Futures tied to the Dow Jones Industrial Average ticked up 24 points, or 0.06%. S&P 500 futures inched up by 0.05%, while Nasdaq 100 futures slipped 0.02%.

In after-hours trading, Block surged more than 13% after fourth-quarter revenue surpassed Wall Street estimates. Carvana climbed 23% after the used car retailer said it expects retail units to grow in 2024.

During the regular session, the major averages roared in a rally that was powered by Nvidia. The chipmaker soared 16%, catching a tailwind from winning quarterly results. The S&P 500 added 2.11% for its best day since January 2023, while the Nasdaq Composite popped 2.96% for its best session since February 2023. The tech-heavy index is within striking distance of its closing record of 16,057.44, registered in November 2021. The 30-stock Dow also closed at a record high, gaining 1.18%.

“Blockbuster earnings from tech giant Nvidia sparked the rally, but many sectors contributed,” said Larry Tentarelli, chief technical strategist at the Blue Chip Daily Trend Report. “This is a very constructive breakout.”

Indeed, 10 of the 11 S&P sectors were positive Thursday, with utilities being the sole loser. Industrials and health care closed at fresh records.

All three major averages are also now on track for winning weeks: The S&P 500 is pacing for a 1.6% advance, while the Nasdaq has gained 1.7%. The Dow is up 1.1% for the period.

Investors will now look to quarterly results from Warner Bros Discovery and Bloomin’ Brands before the opening bell on Friday.

-CNBC’s Chris Hayes contributed reporting.

admin