S&P 500 futures are little changed after benchmark rises to all-time high: Live updates

S&P 500 futures rose slightly after the benchmark index achieved new all-time highs, extending its recent winning streak, while the technology-heavy Nasdaq Composite also reached a record above 23,000, bolstered by strong tech performance including Nvidia's gains. The Dow lagged slightly, though Nvidia limited losses. Investors are now focused on upcoming remarks from Federal Reserve Chair Jerome Powell and other Fed officials regarding interest rate policy, following recent divided minutes, alongside earnings reports from Delta Air Lines and PepsiCo.

Analysis

S&P 500 futures are up slightly on Wednesday night after the benchmark index rose to all-time highs. Futures tied to the broad index traded rose nearly 0.2%, while the Nasdaq 100 futures added more than 0.2% Dow Jones Industrial Average futures rose 60 points, or 0.1%. With Wednesday's gain, the S&P 500 notched its eighth winning day of the last nine. The technology-heavy Nasdaq Composite climbed more than 1% to end above the 23,000 mark for the first time ever. The Dow, on the other hand, finished slightly below flat as blue-chip stocks lagged. But Nvidia helped the 30-stock index restrict losses, rising more than 2% after CEO Jensen Huang told CNBC that computing demand has "gone up substantially" this year. "There are reasons to be optimistic ahead, but I wouldn't be surprised to see some more volatility," Kevin Mahn, investing chief at Hennion & Walsh Asset Management, said on CNBC's "Closing Bell Overtime." "When that volatility comes, money will come off the sidelines." There is no economic data releases of note on Thursday due to the ongoing government shutdown. However, investors will monitor morning remarks from Federal Reserve Chair Jerome Powell at a community bank conference, as well as speeches from other Fed officials such as Michelle Bowman and Mary Daly throughout the day. These appearances come a day after the Fed released minutes for its most recent policy meeting showing divisions around what to do next with interest rates. Traders will also parse earnings reports from Delta Air Lines and PepsiCo due before the bell. The S&P 500 benchmark index recently achieved new all-time highs, with futures trading up nearly 0.2%, extending an impressive eight-day winning streak out of the last nine sessions. The technology-heavy Nasdaq Composite also reached a record, climbing over 1% to surpass the 23,000 mark for the first time. While the Dow Jones Industrial Average lagged, finishing slightly below flat, Nvidia's over 2% gain significantly restricted its losses, driven by CEO Jensen Huang's comments on substantially increased computing demand. Investor focus is now shifting to upcoming remarks from Federal Reserve Chair Jerome Powell and other Fed officials, including Michelle Bowman and Mary Daly, following recent policy meeting minutes revealing divisions regarding future interest rate decisions. Concurrently, traders will parse crucial earnings reports from Delta Air Lines (DAL) and PepsiCo (PEP) before the market opens. Notably, scheduled economic data releases are absent due to the ongoing government shutdown. Despite the current bullish momentum, marked by a strongly positive overall market sentiment, one analyst suggests anticipating potential volatility ahead. This outlook posits that such periods of market fluctuation could draw sidelined capital back into circulation. The mixed signals from the Fed minutes coupled with upcoming earnings will likely dictate near-term market direction.

Key Decisions for Investors

• Closely monitor Federal Reserve officials' statements for clarity on interest rate policy, especially given the recent divisions highlighted in the FOMC minutes.
• Evaluate Q4 earnings reports from Delta Air Lines and PepsiCo for insights into consumer spending and sector-specific trends, which could signal broader economic health.
• Prepare for potential market volatility despite recent highs, as suggested by analyst commentary, and identify strategic entry points if sidelined capital re-enters the market.