Stock futures are flat as S&P 500 takes aim at fifth winning week

Equity futures were little changed Friday morning as the S&P 500 looked for another positive week.

Futures contracts for the S&P 500 were flat. Futures linked to the Nasdaq 100 and the Dow Jones Industrial Average were also little changed.

All three major averages closed slightly higher on Thursday, putting the Dow and S&P 500 on track for a potentially winning week. The S&P 500 rose just 0.08%, but it would still be its fifth consecutive positive week. The Dow is up 0.71% for the week, on track for its fourth positive week in five.

The Nasdaq Composite is down 0.63% for the week.

While this week has seen relatively muted moves on Wall Street, this follows a strong rally since mid-June.

“The market is consolidating a bit this week, flipping a bit. … I think it’s still a healthy market,” Frank Gretz, technical analyst at Wellington Shields, said, citing strong advance-to-decline ratios in recent times. weeks. .

There are no major economic reports out on Friday, but investor sentiment could be supported by a better-than-expected earnings report and the semiconductor equipment company’s upbeat outlook. Applied materials Thursday night. Shares of the company rose about 2% in extended trading.

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