S&P 500 futures inch lower after index notches fresh all-time high and record close: Live updates
S&P 500 futures moved lower Wednesday evening on the heels of the broad market index scoring a new all-time high and a closing record in the regular trading session.
Futures tied to the S&P 500, along with Nasdaq-100 futures, fell nearly 0.2%. Meanwhile, futures linked to the Dow Jones Industrial Average slid 59 points, or 0.1%.
On Wednesday, the S&P 500 posted its second consecutive winning session after hitting another all-time high. The Nasdaq Composite and the 30-stock Dow also finished in positive territory as investors shrugged off President Donald Trump’s warning of more tariffs.
“We have been using the word ‘resilient,'” Elyse Ausenbaugh, head of investment strategy at JPMorgan Wealth Management said on CNBC’s “Closing Bell” on Wednesday. She added that she expects another high single-digit total return upside from here.
“We think that 2025 is going to be a year that investors have a chance to build on strength,” Ausenbaugh continued. “We see more room for this market rally to run.”
Investors also digested newly released minutes from the Federal Reserve’s January meeting. The minutes showed that the central bank’s officials last month agreed that inflation needs to come down more before they cut interest rates again.
Elsewhere on the economic front, investors will be watching for weekly jobless claims data, which is due at 8:30 a.m. ET.
More earnings are also on deck, with big names such as Walmart and Alibaba set to report Thursday before the bell.
Trump says he’s considering giving 20% of DOGE savings to Americans
U.S. President Donald Trump said during his remarks at the FII Priority Summit in Miami Beach, Fla., on Wednesday that he’s thinking of sending 20% of the money saved by the Department of Government Efficiency (DOGE) to Americans.
“There’s even under consideration a new concept where we give 20% of the DOGE savings to American citizens and 20% goes to paying down debt,” Trump said during his speech at the event.
The president’s comments come just a day after Elon Musk said in a post on X that he “Will check with the President” on a proposal to send U.S. households tax refund checks from the money saved by DOGE.
— Sean Conlon
Klaviyo, IMAX among the names making moves after hours
Some stocks are making big moves in extended trading:
- Klaviyo — The software company surged almost 6% after fourth-quarter results topped Wall Street expectations. Klaviyo posted adjusted earnings of 7 cents per share on $270 million in revenue, above the 6 cents per share and $257 million in revenue that analysts surveyed by LSEG were estimating.
- IMAX — The large screen, high-resolution and surround sound movie company slid nearly 5% following weaker-than-expected fourth-quarter earnings and revenue. IMAX earned 27 cents per share on $93 million in revenue in the latest quarter, below the consensus estimate of 28 cents per share and $103 million in revenue, according to LSEG.
- BioMarin Pharmaceutical — Shares gained more than 7% on the heels of stronger-than-expected fourth-quarter earnings, when BioMarin earned 64 cents per share on $747 million in revenue, while analysts polled by FactSet had penciled in 53 cents per share on $712 million in revenue.
Read here for the full list.
— Sean Conlon
Stock futures open in the red
U.S. stock futures moved lower Wednesday night.
S&P 500 futures, along with Nasdaq-100 futures, fell 0.1%. Futures tied to the Dow Jones Industrial Average shed 36 points, or about 0.1%.
— Sean Conlon