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S&P Cracks 5,000-Point Level, Enjoys 5th-Straight Winning Week
S&P Cracks 5,000-Point Level
S&P Tops 5,000
Futures Inch up as S&P Tops 5,000 Mark
S&P Hits 5,000, Closes Just Underneath Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Monday, February 12, 2024
Stocks Little Changed Monday After Record Week Advertisment
U.S. stock futures hovered near the flatline early Monday following a record-setting week for the S&P 500.
Futures for the Dow Jones Industrials index slipped 26 points, or 0.1%, to 38,722.
Futures for the S&P 500 reversed 0.75 points at 5,025.50.
Futures for the NASDAQ dropped five points to 18.034.25.
The major averages are coming off their fifth straight week of gains. The S&P 500 added 1.4%, and NASDAQ Composite jumped 2.3%. The Dow edged fractionally higher.
Some 61 names in the S&P 500 are set to report earnings in the week ahead, including gig economy stocks Lyft, Instacart and DoorDash. Companies such as AutoNation, Kraft Heinz, Hasbro and Coca-Cola will also shed light on the state of the U.S. consumer.
Traders will also watch out for the latest level on the consumer price index - or CPI, a key inflationary gauge - set to be released on Tuesday morning. More key economic data is expected on Thursday and Friday, including January's reading on retail sales, production, imports and exports, housing starts and the producer price index, or PPI.
Most of Asia was shuttered for the Lunar New Year.
Oil prices fell 83 cents to $76.01 U.S. a barrel.
Gold prices stepped back $3.40 to $2,045.30 U.S. an ounce.
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