S&P 500 futures are experiencing a modest uptick on Wednesday night, following the benchmark index's remarkable rise to all-time highs. Futures linked to the broad index have risen by nearly 0.2%, while Nasdaq 100 futures have increased by more than 0.2%. Additionally, futures for the Dow Jones Industrial Average have climbed by 60 points, translating to a 0.1% gain.
Wednesday's performance marked the S&P 500's eighth winning day out of the last nine, showcasing its strong momentum. The technology-heavy Nasdaq Composite made headlines as it surged over 1%, closing above the 23,000 mark for the first time in history. In contrast, the Dow experienced a slight decline but managed to limit losses thanks to significant contributions from Nvidia, which saw its stock rise by more than 2%. This increase came after CEO Jensen Huang emphasized on CNBC that demand for computing has surged substantially this year.
While there are positive indicators for the market's future, Kevin Mahn, the investing chief at Hennion & Walsh Asset Management, expressed a cautious outlook during CNBC's Closing Bell Overtime. He noted, "There are reasons to be optimistic ahead, but I wouldn't be surprised to see some more volatility." Mahn suggested that when this volatility arises, it could lead to increased investment as capital comes off the sidelines.
Looking ahead, there are no significant economic data releases scheduled for Thursday due to the ongoing government shutdown. However, investors will be keenly watching the morning remarks from Federal Reserve Chair Jerome Powell, who will be speaking at a community bank conference. Additionally, speeches from other Federal Reserve officials, including Michelle Bowman and Mary Daly, are expected throughout the day. These discussions follow the recent release of the Fed's minutes from its latest policy meeting, which revealed ongoing divisions regarding future decisions on interest rates.
