S&P 500 index futures fell on Thursday evening as traders awaited the release of the May employment report.
In after-hours Thursday, shares of Lululemon Athletica fell 11% after the sports and recreation company lowered its annual earnings and revenue guidance, citing unfavorable conditions. The company’s outlook for the current quarter was also below analysts’ expectations.
During the regular session, the Dow Jones Industrial Average rose 874.86 points, or 1.73%, to a new record close. The S&P 500 rose 0.41%, while the Nasdaq Composite fell 0.09%, weighed down by exits from the technology sector.
“Many of us would prefer to expand the market, and when we say that, I mean it’s no longer about expanding from Mag Seven, it’s about moving away from semi-caps and hardware,” Charles Kantor, senior portfolio manager at Neuberger Wealth, said on CNBC’s “Closing Bell: Overtime” Thursday afternoon. “You had a little bit of that today, but the demand for things related to building computing and data centers between now and 2030 is a strong force.”
Investors are now anxiously awaiting the May nonfarm payrolls report, which will be released Friday morning at 8:30 a.m. ET.
Economists polled by Dow Jones expect the latest data to show only 80,000 jobs were added last month, which would be lower than the average of 150,000 jobs over the previous two months, SEEbiz reports. The consensus also predicts that the unemployment rate will remain stable from April at 4.3%.
On Thursday, President Donald Trump said he would be “honored” to meet with Ayatollah Mojtaba Khamenei, Iran’s supreme leader, “if a deal is reached.” The war between the US and Iran has been going on for four months, and the conflict between the two nations is in a fragile ceasefire.
