Futures Dim After S&P Posts 3-Day Win Streak

Stock futures Thursday after the S&P 500 strung together a third consecutive advance in reaction to the Trump administration and China hammering out a temporary suspension of their tit-for-tat tariff dispute.

Futures for the Dow Jones Industrials index got hammered 143 points, or 0.3% to 41,974

Futures for the S&P 500 index sagged 25.25 points, or 0.4%, to 5,883.25

Futures for the NASDAQ lost 114.75 points, or 0.5%, to 21,277.75.

Shares of Foot Locker surged more than 82% after the company announced that it would merge with Dick’s Sporting Goods for $2.4 billion. UnitedHealth slid 6% after the Wall Street Journal reported, citing people familiar, that the Justice Department is probing the insurer.

A UnitedHealth spokesman later told the media that the insurer has not been notified by the DOJ of the “supposed” investigation reported.

Tech giants are putting up a strong showing week to date: Nvidia and Tesla are both up more than 16%, and Meta Platforms has added 11.3% in the period. Amazon and Alphabet are both up more than 8% each.

Also due out: earnings for the fiscal first-quarter from Walmart, the nation’s largest retailer.

Traders will look for further signs of a steady economy on Thursday, when the producer price index, retail sales and industrial production numbers for April are released before the stock market opens. Weekly jobless claims are also slated for release.

In Japan, the Nikkei 225 index handed back 1% Thursday, while in Hong Kong, the Hang Seng faded 0.8%.

Oil prices fell $2.27 to $60.88 U.S. a barrel.

Gold prices dropped $9.60 to $3,178.70 U.S. an ounce.