US stock futures climbed overnight Thursday, though the Nasdaq Composite is poised to break a seven-month winning streak.
Dow Jones Industrial Average futures (YM=F) inched up 0.1%. Contracts tied to the S&P 500 (ES=F) and Nasdaq-100 (NQ=F) made 0.1% gains.
When trading picks back up on Friday, equities will be staring down a losing month. A sharp cooldown in megacap tech has led a decline for November, as investors reassessed how quickly AI-driven businesses can translate hype into sustainable profits.
By Wednesday’s close, both the Dow and S&P 500 were slightly lower for the month, threatening to end a six-month winning stretch. The Nasdaq, down 2% so far, is on track to snap a seven-month run of gains.
As November wraps up, analysts are beginning to develop predictions for the year ahead, with Deutsche bank setting a target for the S&P 500 of 8,000 by the end of 2026, though this number sits at the highest end of predictions. Other analysis from HSBC and JPMorgan indicates they expect the benchmark index to hover around the 7,500 mark.
Markets were closed Thursday for the Thanksgiving holiday and will observe an early close at 1 p.m. ET on Friday. Earnings continue at a muted rate with no major releases left for the week.
LIVE 1 update