Traders work on the trading floor of the New York Stock Exchange.
New York Stock Exchange
Futures linked to the Dow Jones Industrial Average There was little change late Wednesday after the index snapped a four-day winning streak.
Dow Jones Futures It fell 16 points, or 0.04%. S&P 500 Index Futures up 0.1%. Nasdaq 100 Futures Share price rose 0.3% Micron Technology.
Shares of the semiconductor maker rose 14% in extended trading Wednesday after issuing strong guidance for the quarter. Fourth-quarter results also beat analysts' expectations. Semiconductor-related stocks Applied Materials and Lam Research both rose 4%.
In a regular transaction, both parties S&P 500 Index and Dow Chemical It pulled back from its all-time high and closed lower. The broader benchmark fell 0.19%, with blue-chip stocks losing an average of 0.70%. Both indexes hit record highs earlier in the session. this Nasdaq Index Bucking the trend, it rose slightly by 0.04%.
Tom Lee, co-founder and director of research at Fundstrat Global Advisors, attributed Wednesday's volatility in part to the upcoming presidential election.
“The next month is going to be a bit of a coin flip for the stock market, and I think that's what we're seeing as there's some repositioning and we're now looking at 40 days after the election,” he said Wednesday afternoon on CNBC. said on the “Closing Clock” program. “A lot of (investors) were not willing to put money in until after Election Day. I don't think it matters who wins; they just want to put this behind them.”
Despite Wednesday's losses, all three major stock indexes are still expected to end September higher.
The next potential catalyst awaiting traders is the weekly jobless claims report due out on Thursday. Economists surveyed by Dow Jones expected 223,000 initial jobless claims for the week ending September 21.
Several Fed officials are also scheduled to speak Thursday, including Chairman Jerome Powell and New York Fed President John Williams.
Chemax and Accenture Earnings will be announced before the market opens, followed by costco wholesale afternoon.