Stock Market Update: Futures Dip as Wall Street Ends Week on High Note

Stock Market Update: November 13, 2024

Traders at the New York Stock Exchange witnessed a slight dip in stock futures on Thursday evening. The Dow Jones Industrial Average fell by 37 points, under 0.1%. The S&P 500 futures dipped by 0.1%, and Nasdaq 100 futures decreased by 0.2%.

This movement followed a positive day on Wall Street. The Dow increased by 462 points, or 1.06%. The S&P 500 rose by 0.53%, while the Nasdaq Composite saw a minimal gain of 0.03%. Notably, Nvidia shares rose by 0.5% after the company reported better-than-expected earnings.

All major indexes are set for a positive week, with the Nasdaq Composite leading with a 1.56% gain. This marks a shift from last week when post-election optimism seemed to stall. Saira Malik from Nuveen noted that markets are stabilizing due to recovery from the recent election and Nvidia’s strong earnings report.

Earnings reports are influencing trading activity in after-hours sessions. Gap shares surged 15% following strong earnings and an increased sales forecast. In contrast, Intuit shares fell over 5% despite beating expectations in its quarterly report.

Looking ahead, Friday will bring preliminary purchasing managers index reports for November and an updated consumer sentiment report. Investors will monitor Bitcoin, which is approaching the significant milestone of $100,000.