US stock futures were trading higher during Wednesday night’s deals as major benchmark averages closed slightly higher overnight, with the S&P 500 index inching closer to fresh all-time highs.
By 6:10 pm ET (11:10 pm GMT) Dow Jones Futures, S&P 500 Futures, Nasdaq 100 Futures were trading within a range of 0.1%.
This activity follows a day of modest gains on Wall Street, with the S&P 500 climbing 0.1%, drawing ever closer to record-breaking territory. The Nasdaq Composite saw a near 0.2% increase in the session, while the 30-stock Dow finished 0.3% higher.
Although these moves were relatively subdued, they occur as investors anticipate the conclusion of what has been a robust year for stocks.
With only two trading sessions left in the year, both the blue-chip Dow and the S&P 500 are set to close the year with impressive gains of over 13% and 24%, respectively. The latter is within striking distance of its highest closing level set in January 2022, just 0.5% away.
The technology-focused NASDAQ Composite, meanwhile, is on course for its strongest year since 2003, having surged over 44%. This exceptional performance has been fueled by the growing enthusiasm around artificial intelligence and a rebound among mega-cap tech stocks.
The three major indexes are also all set to mark their ninth consecutive weeks of gains. This trend underscores the market’s buoyant rally in the final quarter of 2023, bouncing back from a disappointing third quarter.
Investors will be keeping a close eye on economic data related to jobless claims and pending home sales set to be released on Thursday morning.
On the bond markets, United States 10-Year rates were at 3.798%.