From Nasdaq, Inc.:

The U.S. stock market is expected to end the week on a positive note as futures indicate a modestly higher open on Friday, with small-cap stocks leading the upside. Most major indices are in uncharted territory. Seasonal factor revisions to inflation estimates and a speech by the Federal Reserve could guide the trading direction today.

Earnings growth momentum mitigated concerns about a potential pullback from record high levels and rate worries. Major averages opened higher on Thursday but lost ground immediately after. The S&P 500 Index traded above the 5,000 psychological barrier for the first time. Energy stocks gained, while real estate, communication services, financial, material, utility, and healthcare ended lower.

Analyst Louis Navellier said the stock market momentum continues to be higher. Stock traders weren’t too worried by the rise in bond yields. Historically, breaking above the 5,000 mark on the S&P 500 has been a harbinger of better times to come, according to Carson Group’s Ryan Detrick.

In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE: SPY) moved up 0.21% to $499.38 and Nasdaq 100, Dow, S&P 500, and R2K futures all posted gains.

The Labor Department will release seasonal factor revisions to its consumer price inflation estimates, attracting attention given the Fed’s focus on inflation. Several companies including Cloudflare, Inc., Affirm Holdings, Inc., and Pinterest, Inc. have moved in reaction to their earnings announcements. Commodity and bond markets also indicate movement.



Read more: US Stocks Set To Open Higher, Finish Week Stronger Amid Mixed Earnings: Analyst Sees Another Leg-Up Ahead Of Historically Weak March