U.S. Stock Futures Trade Below Record Highs

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U.S. Stock Futures Trade Below Record Highs
Credit: © Reuters.

By Oliver Gray

Investing.com - U.S. stock futures traded lower in early Friday deals following a mixed session on Wall Street that saw the S&P 500 closing at record highs as investors digested a slew of corporate earnings reports, while better than expected initial jobless claims also aided sentiment.

In Thursday's regular session, the Dow Jones Industrial Average shed 6.26 points, or 0.02% to 35603.09, the S&P 500 added 13.59 points or 0.3% to a record close of 4549.79 and the Nasdaq Composite rose 94.02 points or 0.62% to 15215.7.

Dow Jones Industrial Average futures shed 0.09%, S&P 500 futures ticked down 0.26% and Nasdaq 100 futures fell 0.53%.

Among stocks, Tesla (NASDAQ: TSLA ) shares closed 3% higher in regular deals, while Intel (NASDAQ: INTC ) plunged 8.93% after hours after sales came in weaker than expected due to an industry-wide chip shortage. Social media companies also dipped in extended deals. Snap Inc (NYSE: SNAP ) plummeted 21.49% after reporting lower than expected revenue missed Wall Street expectations after its advertising business was disrupted by privacy changes Apple Inc (NASDAQ: AAPL ) introduced earlier this year. Facebook (NASDAQ: FB ) lost 4.41% Twitter (NYSE: TWTR ) 4.43%.

On the bond markets, United States 10-Year rates held near 5-month highs of 1.696%.

Among data, initial jobless claims fell to a new pandemic-era low of 290k, beating analyst expectations of 300k. Later in the session, market participants will be looking toward further corporate earnings reports from names such as Honeywell (NASDAQ: HON ), American Express (NYSE: AXP ) and Schlumberger (NYSE: SLB ).

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