Stock market today: Live updates
Stock market today: Live updates


NEW YORK, NEW YORK – JANUARY 22: Traders work on the floor of the New York Stock Exchange during afternoon trading on January 22, 2024 in New York City. The Dow Jones and S&P both hit all time highs with the Dow Jones closing over 38,000 points for the first time ever as stocks continue to rise.
(Photo by Michael M. Santiago/Getty Images)

Michael M. Santiago | Getty Images News | Getty Images

Stock futures fell on Friday, following a fresh record close for the S&P 500.

Futures tied to the broad market index slipped 0.5%, while Nasdaq 100 futures shed 0.3%. Dow Jones Industrial Average futures dropped 283 points, or 0.7%.

Adam Crisafulli of Vital Knowledge pointed to global pressures, including worries over the political situation in France and the Bank of Japan indicating it would slow its quantitative easing pace.

“Monetary policy is easing on a net basis globally, but the process isn’t going to happen rapidly enough to offset rising earnings headwinds tied to an environment of cooling nominal growth,” Crisafulli wrote.

Stocks are coming off a winning session that saw the S&P 500 notch its fourth straight record close. The technology-heavy Nasdaq Composite also ended the session at a record.

Wholesale inflation unexpectedly ticked down by 0.2% last month, while economists polled by Dow Jones expected the gauge to increase by 0.1%. That follows a consumer price index reading that was flat on a monthly basis in May.

“I think the soft landing is still intact, but I think there’s starting to be and could be jitters about [if] the Fed is staying restrictive for too long,” BD8 Capital Partners CEO Barbara Doran told CNBC’s “Closing Bell: Overtime” on Thursday.

“The market on the surface is expensive at 21 times earnings, but as we know, that’s a handful of stocks [and] if you take that out of the S&P 500, it’s a lot cheaper,” she added. “The question now is breadth.” Market breadth measures the number of stocks that are rising versus those that are falling.

Hopes for a continued cooling of inflation have boosted equities this week. The S&P 500 and Nasdaq Composite are on pace to end the week higher. The S&P 500 has climbed 1.6%, while the Nasdaq has added 3.1%. The 30-stock Dow is the lone laggard with a 0.4% decline.

Elsewhere, software giant Adobe leapt 14% in the premarket Friday after fiscal second-quarter results surpassed Wall Street estimates. Adobe also raised its full-year guidance, making the company a standout compared to peers in the software space that are citing headwinds tied to macroeconomic trends.

Investors are also looking ahead to the release of the University of Michigan’s consumer sentiment index preliminary June reading.



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