U.S. stock futures showed modest gains early Thursday, building on the momentum from the previous day when both the S&P 500 and Nasdaq Composite achieved new record closes. Specifically, S&P 500 futures rose by 0.19%, while Nasdaq 100 futures climbed 0.41%. The Dow Jones Industrial Average futures also saw a slight uptick, increasing by 46 points, which is nearly 0.1%.
In the regular trading session, the S&P 500 advanced by 0.80% to reach an all-time high, while the Nasdaq Composite enjoyed a 1.59% jump, marking its 11th consecutive day of gains. Contrarily, the blue-chip Dow declined, losing 72.27 points or 0.15%.
Recent increases in stock prices have been partially attributed to optimism surrounding a potential peace agreement between the U.S. and Iran. President Donald Trump stated in a Fox Business interview that aired Wednesday that the conflict with Iran is “very close to over.” He emphasized that Tehran is eager to reach a deal. Additionally, a White House official confirmed to CNBC on Tuesday that discussions for a second round of negotiations between the nations are underway, although no formal schedule has been released.
Last Monday, the S&P 500 managed to erase all losses it had incurred since the onset of the Iran conflict. Tim Hayes, chief global investment strategist at Ned Davis Research, commented on the market’s recovery during an appearance on CNBC’s “Closing Bell: Overtime.” He noted that sentiment indicators and valuations have returned to levels seen in late February. Hayes expressed that for the market to continue its upward trajectory, a broader range of stocks—not just the tech sector—needs to participate in the rally.
However, he urged caution, indicating that the current market may be witnessing a rapid return to certain stocks that necessitates further evaluation. “I’d be a little cautious right now. I don’t think this is time to jump back in… Does it follow through? Does it broaden out? That remains to be seen,” Hayes warned.
In addition to market movements, traders are anticipating earnings reports from notable companies such as PepsiCo, Travelers, U.S. Bancorp, Abbott Labs, and Charles Schwab before the market opens on Thursday. Investors are also awaiting data on weekly jobless claims, alongside March’s capacity utilization and industrial production figures, which could further inform market sentiment.
