Stock futures flat as S&P 500 aims for fifth winning week

Stock futures were little changed Friday morning as the S&P 500 looked set for another positive week.

S&P 500 futures were flat. Futures linked to the Nasdaq 100 and the Dow Jones Industrial Average were also little changed.

All three major averages closed slightly higher on Thursday, putting the Dow and S&P 500 on track for a possible winning week. The S&P 500 is only up 0.08%, but it would still be its fifth consecutive positive week. The Dow is up 0.71% for the week, on track for its fourth positive week in five.

The Nasdaq Composite is down 0.63% for the week.

While there has been relatively quiet movement on Wall Street this week, it has come after a solid rally since mid-June.

“The market is consolidating a little bit this week, a little bit of flip-flopping … I think it’s still a healthy market,” said Frank Gretz, technical analyst at Wellington Shields, citing strong indicators of early decline in recent weeks. .

There are no major economic reports on Friday, but investor sentiment may be boosted by a better-than-expected earnings report and an upbeat outlook from the semiconductor equipment company. Applied materials on Thursday evening. The company’s shares rose about 2% in extended trading.



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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!