Stock market today: Dow, S&P 500, Nasdaq poised to build on record highs amid truce hopes
US stock futures rose on Thursday after a strong session that pushed the S&P 500 over 7,000 for the first time amid growing optimism for an extension to the Middle East ceasefire.
Futures linked to the S&P 500 (ES=F) moved up 0.2% as contracts on the Nasdaq 100 (NQ=F) climbed 0.4%. Dow Jones Industrial Average futures (YM=F) edged 0.1% higher.
In the previous session, the S&P 500 (^GSPC) climbed 0.8% to notch a new record, while the Nasdaq Composite (^IXIC) surged 1.6%, extending its winning streak to 11 consecutive sessions. In contrast, the Dow (^DJI) slipped slightly, falling 0.2% as gains in technology shares outpaced the broader market.
Recent strength in stocks has been fueled as a divide grows between Wall Street fiscal hopes and the economic reality of the US at war. Markets pumped after President Trump suggested that tensions with Iran could soon de-escalate, signaling that a potential agreement may be within reach.
The US and Iran are reportedly in indirect discussions to prolong the two-week ceasefire set to expire on April 22, with both sides said to be in favor of an extension. The US is still “very much engaged in these negotiations,” Karoline Levitt, the White House press secretary, said on Wednesday.
Looking ahead, investors are turning their attention to a fresh batch of corporate earnings. Companies including Netflix (NFLX), PepsiCo (PEP), and Charles Schwab (SCHW) are scheduled to report Thursday.
On the economic front, market participants will be monitoring weekly jobless claims along with updates on capacity utilization and industrial production for March.
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