U.S. stock futures showed minimal movement Thursday night, following record-breaking sessions for the Dow Jones Industrial Average and the S&P 500.
By 6:50 pm ET (10:50 pm GMT), S&P 500 futures were flat, Nasdaq 100 futures eased 0.1%, while Dow futures added 0.1%.
In extended trading, FedEx saw its shares pull back by 10% after reducing its full-year earnings outlook and trimming revenue guidance. Conversely, Nike surged more than 9% after announcing CEO John Donahoe’s departure, effective October 13.
During Thursday's regular trade, the Dow surged past 42,000 for the first time, closing more than 500 points higher, while the S&P 500 gained 1.7%, finishing above the 5,700 level. The Nasdaq Composite advanced by 2.5%.
Thursday’s market optimism was fueled by the Federal Reserve’s half-point interest rate cut on Wednesday, the first since 2020. Investors were further encouraged by unemployment data showing initial jobless claims at 219,000, lower than expected and down from the prior week.
The major indices are on track for weekly gains, with the S&P 500 up nearly 1.6% through Thursday’s close, the Dow up 1.5%, and the Nasdaq leading with a 1.9% advance.