Stock futures are little changed after S&P 500 posts fourth consecutive closing record: Live updates (2024)

Stock futures were little changed Thursday, following a fresh record close for the S&P 500 and strong quarterly results from Adobe.

Futures tied to the broad market index slipped 0.05%, while Nasdaq 100 futures ticked up by 0.03%. Dow Jones Industrial Average futures inched down by 0.07%, or 29 points.

In extended trading, software giant Adobe leapt 15% after fiscal second-quarter results surpassed Wall Street estimates. Adobe also raised its full-year guidance, making the company a standout compared to peers in the software space that are citing headwinds tied to macroeconomic trends.

Stocks are coming off a winning session that saw the S&P 500 notch its fourth-straight record close. The technology-heavy Nasdaq Composite also ended the session at a record.

Wholesale inflation unexpectedly ticked down by 0.2% last month, while economists polled by Dow Jones expected the gauge to increase by 0.1%. That follows a consumer price index reading that was flat on a monthly basis in May.

"I think the soft landing is still intact, but I think there's starting to be and could be jitters about [if] the Fed is staying restrictive for too long," BD8 Capital Partners CEO Barbara Doran told CNBC's "Closing Bell: Overtime" on Thursday.

"The market on the surface is expensive at 21 times earnings, but as we know, that's a handful of stocks [and] if you take that out of the S&P 500, it's a lot cheaper," she added. "The question now is breadth." Market breadth measures the number of stocks that are rising versus those that are falling.

Hopes for a continued cooling of inflation have boosted equities this week. The S&P 500 and Nasdaq Composite are on pace to end the week higher. The S&P 500 has climbed 1.6%, while the Nasdaq has added 3.1%. The 30-stock Dow is the lone laggard with a 0.4% decline.

Elsewhere, shares of electric vehicle maker Tesla traded marginally higher after the company's shareholders approved a contentious $56 billion pay package for CEO Elon Musk.

Roaring Kitty’s GameStop bet appears to top 9 million shares

Famed meme stock trader Keith Gill – also known as "Roaring Kitty" and "DeepF------Value" – seems to have bolstered his stake in the company to 9 million shares.

Gill posted a new screenshot of his E-Trade portfolio to Reddit's Superstonk forum on Thursday after the market close. The image seems to show that he's now holding 9.001 million GameStop shares and more than $6 million in cash.

The total value of his portfolio surpassed $268 million on Thursday evening, compared to $210 million on June 2. Shares of GameStop jumped more than 14% in regular trading, but slid 4% in after hours.

Read more from CNBC's Yun Li on how Roaring Kitty may have upped his stake here.

–Darla Mercado

Adobe soars following earnings beat, higher forward guidance

Shares of software giant Adobe soared more than 16% on Thursday after the company's second-quarter results surpassed Wall Street estimates.

Adobe raised both its full-year earrings and revenue outlook. The company now forecasts earnings of $18 per share to $18.20 on revenue in the range of $5.33 billion to $5.38 billion.

— Brian Evans

Tesla shareholders reapprove Elon Musk's pay package

Tesla shareholders voted to reinstate CEO Elon Musk's controversial $56 billion pay package on Thursday, although the measure has to be settled in court to take effect.

The vote on Musk's compensation was one of several measures poised for a shareholder vote on Thursday, including a provision to reincorporate the company in Texas.

Shares of Tesla traded roughly 1% higher. Tesla stock closed nearly 3% higher during the regular session in anticipation that the pay package would be approved.

— Brian Evans

Stock futures are little changed on Thursday

Stock futures were little changed on Thursday, following the S&P 500's latest record-high close and strong quarterly results from Adobe.

S&P 500 futures ticked down 0.1%, while Nasdaq 100 futures slipped 0.04%. Dow Jones Industrial Average futures ticked down 57 points, or 0.1%.

— Brian Evans