Stock futures tick higher as S&P 500 nears record high: Live updates
Stock futures ticked higher early Thursday as theS&P 500remains within striking distance of its all-time high.
S&P 500 futuresrose 0.3%, and theNasdaq 100 futuresclimbed 0.31%. Futures tied to theDow Jones Industrial Averageticked up 88 points, or 0.4%.
The moves come after the S&P 500finished Wednesday's session flatbut within 1% of its February record. The benchmark has rallied more than 22% since hitting a closing low in April at the peak of the U.S. tariff scare. Trade pressures have eased since then, but some on Wall Street are skeptical that the recent market momentum will carry on.
"The various macro factors that I'm looking at seem to suggest that there's no way this situation can continue," Komal Sri-Kumar, president of Sri-Kumar Global Strategies, said on CNBC's "Power Lunch" Wednesday, citing the Israel-Iran conflict as well as President Donald Trump's tariffs and the impact of the "One Big Beautiful Bill Act" on the fiscal deficit.
Tensions in the Middle East seemed to ease after Trump said Tuesday that aceasefire between Israel and Iranwas in effect. Though the president accused both countries of violating the agreement, saying he's "not happy" with either of them, the deal has since appeared to hold. The U.S. isplanning to meet with Irannext week.
On the economic front, investors are eyeing weekly jobless claims data, which is slated for release at 8:30 a.m. ET on Thursday.
Wall Street is also looking ahead to other earnings results.Walgreensis set to report before the bell Thursday, andNikeis scheduled for release after the closing bell.
Record watch: Where major averages stand from their all-time highs
The major averages are within reach of their all-time highs. Here's how far they are from those levels:
— Fred Imbert
Wall Street ‘alarmed’ and ‘depressed’ over Zohran Mamdani’s NYC mayoral primary win
To say Wall Street isn't a fan of Zohran Mamdani would be an understatement.
In fact, high-profile investors and business leaders in the Big Apple are up in arms about the stunning win by the democratic socialist in the primary to win the Democratic nomination to serve as the next New York City mayor. The three-term Assemblymember's potential victory in the November general election could bring what the Street hates most — tax hikes and tighter regulation threatening corporate and investment interests.
Philippe Laffont, founder of hedge fund Coatue Management, told CNBC that a Mamdani win could trigger another exodus of wealthy investors. Since the pandemic, a wave of wealthy residents and institutional firms have fled the nation's largest city for low-tax states such as Florida and Texas.
"Some people are going to, for sure, go," Laffont said on CNBC's "Squawk Box" Wednesday after former New York Governor Andrew Cuomo conceded the Democratic nomination. "It's not quite done yet. There's still an election. Maybe Cuomo will re-enter as an independent."
Read the full storyhere.
— Yun Li, Alex Harring
Micron, H.B. Fuller, Kratos Defense & Security Solutions among the stocks making moves after hours
Some stocks are making sizable moves in extended trading Wednesday:
Click hereto read the complete list.
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