Stock futures are little changed as investors come off winning day: Live updates
Traders work on the floor of the New York Stock Exchange (NYSE) on February 27, 2023 in New York City.
Spencer Platt | Getty Images
Stock futures were little changed Wednesday night.
Futures tied to the Dow Jones Industrial Average lost 14 points, trading near flat. S&P 500 futures and Nasdaq-100 futures were also near their flatlines.
The moves come amid a hectic week for stocks. The three major indexes ended Wednesday higher, with the Nasdaq Composite leading the way with a roughly 1.8% jump. The S&P 500 and Dow followed at 1.4% and 1% higher, respectively. Those gains mark a reversal from Tuesday, when all three indexes ended the session lower.
Big Tech stocks contributed to Wednesday’s advance. Amazon popped 3%, while Meta and Netflix each gained more than 2%. Regional banks, closely followed since Silicon Valley Bank’s collapse earlier this month, also finished the session higher, with the SPDR S&P Regional Banking ETF (KRE) adding around 1%.
The moves over the course of the week stem from Wall Street’s attempts to weigh varying factors, said Thomas Martin, senior portfolio manager at Globalt Investments. Those factors, he said, include the latest batch of corporate earnings, the future path of interest rates and potential for a recession and, as of recent weeks, the state of the banks.
“There’s always been the natural seesaw, but it’s sort of never been like this,” he said. “There’s just so many things that are on investors’ minds.”
On Thursday, investors will watch for economic data on weekly jobless claims and the gross domestic product. Boston Federal Reserve President Susan Collins, Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari are all slated to speak in the afternoon.