Stock futures saw modest gains early on Friday, following a mixed performance for major indexes during Thursday’s regular session, CNBC reports.
Futures linked to the Dow Jones Industrial Average rose by 55 points, or approximately 0.13%, while S&P 500 futures increased by 0.18%, and Nasdaq 100 futures added 0.2%.
Despite these early gains, Thursday’s trading saw a slight dip across the major indices. The S&P 500 ended the day down 0.21%, with Apple’s 4% drop contributing significantly to a 0.89% decline in the Nasdaq Composite. The Dow Jones lost 68.42 points, or 0.16%. Even with the losses, all three indexes are still on track to finish the week with positive gains.
A key development in after-hours trading came from J.B. Hunt Transport Services, which saw a drop of nearly 10% after its fourth-quarter earnings missed analysts’ expectations. The company’s earnings per share came in at $1.53, below the $1.61 consensus estimate. As a result, Old Dominion Freight Line also saw its stock fall by nearly 2%.
While market uncertainty continues, with fluctuations in the 10-year Treasury yield, potential tariff threats from the incoming administration, and the Federal Reserve’s unclear stance on interest rates, analysts like Sam Stovall, chief investment strategist at CFRA Research, expect stocks to remain rangebound in the short term. Stovall noted that early indicators for the year were not particularly favorable, especially following the dip below December lows earlier this month, which historically suggests a 50% chance of gains.
Looking ahead, investors are awaiting more bank earnings reports on Friday, including those from State Street, Citizens Financial, Truist Financial, and Regions Financial. The latest readings on building permits and housing starts will also be closely monitored.
As of Thursday evening, the major averages were still showing positive weekly performance:
- The S&P 500 is up 1.89%,
- The Dow Jones Industrial Average has gained 2.90%,
- The Nasdaq Composite is up 0.92%,
- The Russell 2000 is leading with a 3.54% increase.
