Stock market today: Live updates
US stock futures remained relatively unchanged on Thursday night following the news that the S&P 500 had achieved its highest close for 2023. While the Dow Jones Industrial Average futures fell 0.11%, the S&P 500 futures dipped 0.04% and the Nasdaq 100 futures increased by 0.04%.
Shares in DocuSign saw a 5% rise during extended trading after the electronic agreements company surpassed analysts’ first-quarter expectations on both the top and bottom lines.
During Thursday’s regular trading session, stocks continued their recent rally, with the S&P 500 reaching a record high of 4,293.93. The Dow Jones Industrial Average also experienced gains, closing 0.5% higher, while the Nasdaq Composite rose 1.02%.
Many investors have been encouraged by the broader range of stocks participating in the rally, including small-cap equities. However, some experts have warned that these gains may not be sustainable, and the market could experience a “position squeeze” similar to August 2022.
The S&P 500 is on track for its fourth consecutive positive week, while the Dow is looking at its second consecutive week of gains. Conversely, the Nasdaq Composite is on track to break its six-week winning streak.
FAQs:
What is the S&P 500?
The Standard & Poor’s 500 (S&P 500) is a stock market index that measures the stock performance of 500 large companies listed on stock exchanges in the United States.
What are stock futures?
Stock futures are contracts that allow traders to buy or sell stocks at a predetermined price and date in the future. They are used as bets on future stock prices, and can be highly speculative.
What is the Dow Jones Industrial Average?
The Dow Jones Industrial Average (DJIA) is a stock market index that tracks the stock performance of 30 large, publicly-owned companies based in the United States. It is one of the most widely-followed stock market indices in the world.
What is the Nasdaq Composite?
The Nasdaq Composite is a stock market index that tracks the stock performance of over 3,000 companies listed on the Nasdaq stock exchange. It is known for its focus on technology and growth-oriented stocks.
What is a “position squeeze”?
A position squeeze occurs when traders who have bet against a stock or index are forced to buy back their positions, resulting in a rapid increase in the stock or index price. This can be triggered by various factors, such as unexpected positive news or a sudden increase in demand for the stock or index.
Live updates on today’s stock market
U.S. stock futures remained relatively unchanged on Thursday evening following the S&P 500’s highest close for 2023. Dow Jones Industrial Average futures dropped by 0.11%, whilst S&P 500 futures dipped 0.04%. Nasdaq 100 futures, however, rose 0.04%. Following the strong showing on Thursday, with the S&P 500 increasing by 0.62% to 4,293.93, some investors were encouraged that a broader range of stocks, including small-cap equities, were participating in the current rally. Some warned that those gains may not be sustainable, however. The S&P 500 is set for its fourth straight positive week, whilst the Dow is headed for a second consecutive week of gains. Currently, the Nasdaq Composite is on track to break a six-week winning streak.