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Traders work on the trading floor of the New York Stock Exchange.
New York Stock Exchange
Dow Jones futures rose Friday morning Wall Street stocks fall.
Futures and Dow Jones Industrial Average up 0.07%. S&P 500 Index Futures rose 0.15%, while Nasdaq 100 Futures up 0.4%.
Broadcom Shares jump 14% after reporting fiscal fourth-quarter adjusted earnings beat expectations artificial intelligence revenue Soared 220% during the year. Home furnishing company shares relative humidity The company’s shares rose 18% on strong revenue growth guidance.
The overnight moves followed losses on Wall Street. 30 stocks Dow Chemical It fell 234 points, about 0.5%, falling for the sixth consecutive day, setting a record for the longest losing streak since April. this Nasdaq Composite Index fell nearly 0.7% and fell below the 20,000 point mark. Technology stocks such as NVIDIA plummeted, while S&P 500 Index It fell slightly by about 0.5%.
For the week, the Dow will fall 1.6%, while the S&P 500 will fall 0.6%. The Nasdaq outperformed and was expected to gain 0.2% during the period.
Thursday’s trend follows producer price index The November report beat expectations. Wholesale prices rose 0.4% last month, beating the Dow Jones consensus forecast of 0.2%.
Recent gains in stocks have stoked concerns among some that the post-election rally has pushed market valuations too high, but some on Wall Street believe stocks may have more room to rise.
“I think we’re in the optimistic phase, but I don’t think we’re in the euphoric phase yet,” Joe Terranova, chief market strategist at Virtus Investment Partners, said Thursday on CNBC’s “Closing Bell.” “I think, “The reason why the market can have another significantly positive year like the last two is because everyone is bullish on that fact.”
He believes it’s time for investors to focus on specific sectors rather than overall gains in the stock market.
Economic data will be light on Friday, with November import and export data due to be released soon.
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