A ‘Making Money’ panel with Kaltbaum Capital Management president Gary Kaltbaum and MarketGauge Group managing director Michelle Schneider examines the success of ‘meme’ stocks.
U.S. stock futures were little changed as investors awaited key economic data and digested another round of retail earnings.
Dow Jones Industrial Average futures slipped 9 points, or 0.03%, while the S&P 500 and the Nasdaq 100 were lower by X% and X%, respectively. Both the Dow and the S&P 500 finished Wednesday within 1.3% of their respective all-time highs. The Nasdaq was within 3% of its own record peak.
Initial jobless claims and a second estimate of second-quarter gross domestic product will both be released at 8:30 a.m. ET. Analysts surveyed by Refinitiv expect weekly claims to fall to a pandemic low of 425,000 and GDP to see an upward revision to 6.6% from 6.4%.
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In stocks, Boeing Co. shares were on track to hit a one-month high after rival Airbus raised its production targets amid signs of a global economic recovery.
Elsewhere, Ford Motor. Co remained in focus after the automaker on Wednesday announced plans to increase investment in electric vehicles to $30 billion by 2025 with the expectation that 40% of its global volume will be fully electric by 2030. Shares gained 8.55% on the news.
In earnings, Best Buy Inc. reported quarterly earnings and revenue that exceeded Wall Street estimates as stimulus checks boosted demand for technology products and services. The electronics retailer raised its comparable sales growth outlook.
Discount retailer Dollar General Corp. said quarterly same-store sales fell 4.6% year over year as demand for consumable items, including food, declined and fewer customers visited stores. The company attributed the 4.2% rise in its quarterly profit to stimulus efforts.
Costco Wholesale Corp., Dell Technologies Inc., Gap Inc. and Salesforce.com Inc. are among the companies set to release their quarterly results after the closing bell.
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Overseas markets were quiet.
European bourses traded mixed with Britain’s FTSE 100 and Germany’s DAX 30 lower by 0.16% and 0.26%, respectively, while France’s CAC 40 was higher by 0.5%.
In Asia, China’s Shanghai Composite advanced 0.43%, Hong Kong’s Hang Seng index lost 0.18% and Japan’s Nikkei 225 declined 0.33%.
