S&P Futures Decline After Record Numbers



S&P 500 futures ticked were slightly lower Friday after the broad market benchmark briefly climbed above 5,500 for the first time.

Futures for the Dow Jones Industrials dumped 95 points, or 0.2%, to 39,480.

Futures for the S&P 500 backed off 13 points, or 0.2%, at 5,581.50.

Futures for the NASDAQ Composite faltered 46.25 points, or 0.2%, to 19,985.25.

As of Thursday’s close, all three major averages were on pace for weekly gains. The S&P 500 is tracking for a roughly 0.8% advance, while the NASDAQ is up 0.2%. The Dow is the outperformer, touting a 1.4% rise week to date.

Nvidia fell 3.5% on Thursday, leading the information technology sector to drop 1.6%. Nonetheless, the chipmaker is still up more than 160% year to date, and it briefly beat Microsoft as the most valuable public company on Tuesday.

On Friday, investors will be looking toward manufacturing and services Purchasing Managers’ Index readings for June. Existing home sales data for May is also slated for release.

Trading on Friday could also be more volatile than normal due to triple witching, the expiration of stock options, stock index options and stock index futures options.

In Japan, the Nikkei 225 faded 0.1% Friday, while the Hang Seng in Hong Kong was wounded 1.7%.

Oil prices let go of a penny to $81.28 U.S. a barrel.

Gold prices gained $9.60 to $2,378.60 U.S. an ounce.