Wall St. on Track for Winning Week - InvestingChannel

Wall St. on Track for Winning Week

S&P 500 futures were near flat on Friday, but the major U.S. averages remained on pace to post weekly gains.

Futures for the Dow Jones Industrials gained 49 points, or 0.1%, to 44,038.

Futures for the S&P 500 took on 3.25 points to 5,967.25

Futures for the NASDAQ Composite Index sank 33 points, or 0.2%, to 20,796.50.

Nvidia, the buzzy artificial intelligence stock that reported earnings on Wednesday, fell 0.5% in the premarket. Meta Platforms and Alphabet were also lower.

Those moves come after a positive day on Wall Street. The Dow rose more than 400 points, while the S&P 500 added 0.5%. On the other hand, the NASDAQ Composite ticked only marginally higher.

All three major averages are on track for a positive week, led by the NASDAQ Composite’s gain of 1.56%. That’s a change from last week, when Wall Street’s postelection rally stalled.

Earnings reports were driving market action in extended trading. Shares of Gap jumped 15% after the company beat earnings estimates and hiked its full-year sales guidance. However, Intuit slid more than 3% even after its quarterly report exceeded expectations on the top and bottom lines.

On Friday, investors will get a look at preliminary purchasing managers index reports for November, as well as an updated consumer sentiment reading.

Investors will also keep an eye on bitcoin, which is trading just under the long-awaited milestone of $100,000.

In Japan, the Nikkei 225 hurtled higher 0.7% Friday, while in Hong Kong, the Hang Seng fell 1.9%.

Oil prices dipped 57 cents to $69.53 U.S. a barrel.

Gold prices moved forward $26.40 to $2,701.30 U.S. an ounce.

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