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Stock futures barely change, Wall Street heads for a successful week
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Stock futures barely change, Wall Street heads for a successful week

Stock futures were almost unchanged on Thursday evening as investors looked ahead to the end of a week that had seen a relief rally.

Futures for the Dow Jones Industrial Average rose 52 points, or 0.1 percent. Futures for the S&P 500 and Nasdaq 100 also rose 0.1 percent each.

These developments follow a strong day on Wall Street. The Dow gained more than 500 points on Thursday, along with the broader S&P 500 up more than 1 percent. The Nasdaq Composite gained more than 2 percent, with technology stocks leading the rally.

Thursday was the sixth consecutive day of gains for the S&P 500 and the Nasdaq. With gains of more than 3% and 5%, respectively, this week, both are on track for their biggest weekly gains since November. The Dow is up more than 2% this week, which would also be its best performance this year.

Retail sales figures released on Thursday were much better than economists had expected, while weekly unemployment figures fell, both of which suggested that recession fears that sparked a wave of global selling earlier this month were overblown.

These statistics came after inflation figures released earlier this week boosted hopes that a soft landing scenario was still possible. These data points also supported expectations that the Federal Reserve will begin cutting interest rates at its next meeting.

“Investors have been looking for more reasons to continue the recovery,” said Sam Stovall, chief investment strategist at CFRA Research. “Now, given the recent better-than-expected economic and employment data, investors are picking up the pace.”

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