Stock futures were little changed on Thursday after a continued market rotation powered the Dow Jones Industrial Average to fresh highs.
Futures for the 30-stock index skidded 49 points, or 0.1%, to 48,319.
Futures for the S&P 500 index hesitated 11.5 points, or 0.2%, to 6,864.75.
Futures for the NASDAQ lost 46.5 points, or 0.2%, to 25,577.25.
The Dow on Wednesday closed above 48,000 for the first time, putting the 30-stock index on pace for its best weekly performance since late June. The S&P 500 settled up slightly above the flatline to post four straight days of gains, meanwhile, and the tech-heavy Nasdaq Composite closed the day in the red.
Disney shares fell 3% on mixed results for the company’s fiscal fourth quarter.
Wednesday again saw a divergence between technology stocks and other pockets of the market as value-oriented sectors such as health care outperformed. The rotation has been a relief for some investors looking for a broadening out of the market, but it could also signal growing caution away from risk-on assets.
Investors were optimistic during Wednesday’s session that the U.S. government shutdown — the longest in history — would end after lasting six weeks. That outcome came to fruition that evening, when President Donald Trump signed into law a funding bill to reopen the federal government. The bill, which had been passed by the House of Representatives earlier in the night, will fund government operations through the end of January.
In Japan, the Nikkei 225 eked higher 0.4% Thursday, while in Hong Kong, the Hang Seng -0.6%
Oil prices gained 41 cents to $58.90 U.S. a barrel.
Gold prices hiked $24.60 to $4,238.20 U.S. per ounce.
