Dow Jones Today: Stock Futures Point to Mixed Open for Major Indexes as Market Looks to Extend Record Run

Stock futures were mixed Friday morning after two days of post-election gains that have pushed major indexes to a series of record highs.

Futures tied to the S&P 500 and Nasdaq were down 0.1% and 0.3%, respectively, while those linked to Dow Jones Industrial Average were up 0.1%. Each of the major indexes hit all-time highs on Thursday on continued investor optimism about Donald Trump’s decisive victory in the presidential election and as the Federal Reserve cut interest rates.

Mega-cap tech stocks, which have helped underpin the recent rally, were also mixed in premarket trading Friday. Apple (AAPL) and Tesla (TSLA) were moving higher, while AI chipmaker Nvidia (NVDA), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL) and Meta Platforms (META) were down slightly.

Nvidia becomes a member of the Dow on Friday, replacing beleaguered chipmaker Intel (INTC), which was down 1% this morning. Paint maker Sherwin-Williams (SHW) is also joining the blue-chip index, supplanting chemical giant Dow (DOW). 

Several companies were making big moves this morning after reporting quarterly results. DraftKings (DKNG), Arista Networks (ANET), Airbnb (ABNB), Pinterest (PINS) and Sweetgreen (SG) were among the big post-earnings decliners, while Toast (TOST) and Doximity (DOCS) soared.

Shares of Chinese companies traded in the U.S. were losing ground after new stimulus measures announced by authorities in Beijing fell short of market expectations. The iShares MSCI China ETF (MCHI) was down 4.5% in premarket trading, as shares of PDD Holdings (PDD), the parent of online marketplace Temu, online retailer JD.com (JD), conglomerate Alibaba Group Holding (BABA) and Li Auto (LI) all slid.

Gold futures, which have lost ground following the election as the U.S. dollar has strengthened, were down slightly this morning at around $2,700 an ounce.

Bitcoin, which has been hitting record highs in recent days amid optimism that a Trump presidency will benefit the asset class, was down slightly at around $76,200.

The yield on 10-year Treasurys, which fell sharply on Thursday, was down again this morning at around 4.31%, versus 4.34% at the close yesterday. The yield had been rising steadily in recent weeks as market participants reassessed their expectations for how aggressive the Fed would be in cutting interest rates in the months ahead.