Traders on the floor of the NYSE, July 6, 2023.
Source: NYSE
Stock futures were little changed on Thursday evening, after the S&P 500 and the Nasdaq Composite posted their best day since early 2023.
Futures tied to the Dow Jones Industrial Average flickered near the flat line. S&P 500 futures inched down by 0.02%, while Nasdaq 100 futures slipped less than 0.1%.
In after-hours trading, Block surged more than 11% after fourth-quarter revenue surpassed Wall Street estimates. Carvana climbed nearly 20% after the used car retailer said it expects retail units to grow in 2024.
During the regular session, the major averages roared in a rally that was powered by Nvidia. The chipmaker soared 16%, catching a tailwind from winning quarterly results. The S&P 500 added 2.11% for its best day since January 2023, while the Nasdaq Composite popped 2.96% for its best session since February 2023. The tech-heavy index is within striking distance of its closing record of 16,057.44, registered in November 2021. The 30-stock Dow also closed at a record high, gaining 1.18%.
“Blockbuster earnings from tech giant Nvidia sparked the rally, but many sectors contributed,” said Larry Tentarelli, chief technical strategist at the Blue Chip Daily Trend Report. “This is a very constructive breakout.”
Indeed, 10 of the 11 S&P sectors were positive Thursday, with utilities being the sole loser. Industrials and health care closed at fresh records.
All three major averages are also now on track for winning weeks: The S&P 500 is pacing for a 1.6% advance, while the Nasdaq has gained 1.7%. The Dow is up 1.1% for the period.
Investors will now look to quarterly results from Warner Bros Discovery and Bloomin’ Brands before the opening bell on Friday.
-CNBC’s Chris Hayes contributed reporting.
