Stock futures are little changed after S&P 500 notches fourth-straight winning session: Live updates

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Traders work on the New York Stock Exchange floor on Sept. 9, 2024.

Spencer Platt | Getty Images

U.S. stock futures were little changed Thursday evening as traders sought to shake off a sluggish September.

S&P 500 futures and Nasdaq 100 futures inched higher by less than 0.1%. Futures tied to the Dow Jones Industrial Average added just 26 points.

During Thursday's regular trading, investors snapped up shares of Big Tech names, including Nvidia, lifting the S&P 500 and the Nasdaq Composite for a fourth consecutive day. The broad market index is now down just 0.9% in September and stands about 1.3% from its record. The 30-stock Dow advanced roughly 0.6% on Thursday, bolstered by Salesforce and Microsoft.

Wall Street is now looking ahead toward the Federal Reserve's policy meeting on Sept. 17-18, where the central bank is largely anticipated to lower interest rates by 25 basis points. Currently, the Fed's target rate is sitting at 5.25% to 5.5%.

Economic data reflecting a moderation in inflation also seemed to support the case for a rate cut. The consumer price index in August came in at 2.5% on annualized basis, the lowest level since February 2021. Wholesale prices, meanwhile, rose 0.2% in August, coming in line with expectations.

"At the end of the day, the U.S. consumer and the economy continue to do well, [and] profits continue to print above expectations," Dan Greenhaus, chief strategist at Solus Alternative Asset Management, said on CNBC's "Closing Bell" on Thursday.

"And so while we had a meaningful sell-off driven by some of those AI names, for sure, the rebound seems entirely justified because it doesn't seem like these issues are broadening out," he added.

The three major averages are also on track to post weekly gains, with the S&P 500 up 3.5% and the Nasdaq on track for a 5.3% jump. The Dow is up 1.9% week to date.

On the economic front, traders will look toward August's import prices data Friday morning. Preliminary consumer sentiment figures for September are also scheduled for release.

Tech revival puts sector on pace for best week since mid-August

Investors' move to pick up battered shares of tech names this week has lifted the sector 6.88%.

The tech sector of the S&P 500 is now on track for its best week since Aug. 16.

Names leading the charge in tech's revival include Broadcom, which is up 20% week to date. Shares slid late last week after the company issued current-quarter revenue guidance that was roughly in line with analysts' expectations.

Artificial intelligence play Nvidia surged nearly 16% this week. The chip giant's advance helped lift the S&P 500 and the Nasdaq Composite to their fourth consecutive winning session on Thursday.

Tech names stumbled out the gates to begin September but they have made up considerable ground over the course of this week, shrinking this month's losses to 0.67%

— Darla Mercado, Chris Hayes

Stocks making the biggest moves after hours

Check out the companies making headlines in extended trading:

Adobe — Shares fell more than 9% after the software company issued soft guidance. Adobe issued a fiscal fourth-quarter revenue forecast in a range between $5.50 billion and $5.55 billion. Analysts polled by LSEG had estimated $5.61 billion in revenue. Guidance for adjusted earnings per share came in at $4.63 to $4.68 per share, while analysts had expected $4.67 in earnings per share. Meanwhile, third-quarter adjusted earnings and revenue beat estimates.
RH — The home furnishings company surged nearly 19% after posting a top- and bottom-line beat for the fiscal second quarter. RH reported adjusted earnings of $1.69 per share on $830 million in revenue. Analysts surveyed by LSEG had called for $1.56 in earnings per share and revenue of $825 million.

The full story can be found here.

— Hakyung Kim

Oracle shares pop on strong forward guidance

Oracle shares rallied nearly 6% in extended trading Thursday after the company increased its 2026 revenue guidance.

Management said it now sees at least $66 billion in fiscal 2026 revenue. Analysts surveyed by LSEG were anticipating $64.5 billion.

The company also issued a heady forecast for the 2029 fiscal year, for which it anticipates $104 billion in revenue and 20% year-over-year earnings growth.