Traders on the floor of the New York Stock Exchange
Source: New York Stock Exchange
Futures on major U.S. equities fell early Friday, as Wall Street appeared to end the week with modest gains.
Futures Dow Jones Industrial Average fell 39 points. The futures S&P 500 and Nasdaq 100 traded lower by approximately 0.19% and 0.14%, respectively.
Disney shares rose more than 2% in expanded trading after the company reported strong growth in pay-per-view subscribers and crushed expectations in its first-quarter 2021 earnings report. Disney said it now has nearly 95 million paid subscribers on its Disney + broadcast service.
The main averages are on track to post a positive week at record levels, although the sharp rise that began in February seemed to take a breather. The Dow blue note fell slightly from Thursday’s record, while the S&P 500 and Nasdaq Composite fluctuated and hit record-highs.
The market grew as it grew, as investors continued to have hope for a smooth economic reopening and additional Covid stimulus. The Dow gained 0.9% this week, up 4.8% from February. The S&P 500 and Nasdaq were up 0.8% and 1.2%, respectively, so far, up 5.4% and 7.3% this month.
“Among the ongoing medical and economic improvements, markets continue to expect a much better 2021 and this has supported prices,” Commonwealth Financial Network investment director Brad McMillan said in a note. “Fourth-quarter earnings far exceed expectations and analysts are now adjusting their earnings forecasts for 2021.”
President Joe Biden said Thursday that his administration has reached agreements for another 200 million doses of Covid-19 vaccine from Moderna and Pfizer, bringing the U.S. total to 600 million. He added that the United States will have enough supply for 300 million Americans by the end of July.
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