S&P Iffy About Crossing 5K Threshold

Stock futures hovered near the flatline Thursday morning after the S&P 500 finished the regular session on the brink of the 5,000 milestone.

Futures for the Dow Jones Industrials index doffed seven points to 38,767.

Futures for the S&P 500 sifted off 7.25 points, or 0.1%, at 5,008.

Futures for the NASDAQ dipped 27.5 points, or 0.2%, to 17,814.25.

Disney shares surged about 8% before the bell after the media giant beat quarterly earnings estimates and raised its guidance amid its cost-cutting effort. Chipmaker and designer Arm jumped nearly 30% after the company reported stronger-than-expected earnings and gave an upbeat profit forecast.

Stocks are coming off a winning session that saw the S&P 500 edge close to 5,000 S&P 500 in a rally led by strong earnings report and technology continuing their chug along. The fourth-quarter earnings season has been stronger than expected, boosting investor confidence that the healthy economy could continue driving corporate profits.

Big tech Meta Platforms surged another 3% Wednesday, while Nvidia and Microsoft rose about 2% each to fresh record highs. The NASDAQ
Composite jumped nearly 1% to another all-time closing high, and the blue-chip Dow rallied about 150 points.

Investors will monitor fresh jobless claims data on Thursday to gauge the health of the labor market.

In Japan, the Nikkei 225 bounced 2.1% higher Thursday, while in Hong Kong, the Hang Seng Index skidded 1.3%.

Oil prices advanced 95 cents to $74.81 U.S. a barrel.

Gold prices settled $12.40 to $2,039.30 U.S. an ounce.