Stock futures are little changed after Dow retakes 50,000: Live updates

U.S. stock futures were little changed on Thursday night after the Dow Jones Industrial Average reclaimed the 50,000 threshold, and the S&P 500 closed above 7,500 for the first time. Investors are also keeping an eye on the ongoing summit between the U.S. and China.

Dow futures fell by 5 points, or 0.01%. S&P 500 futures dipped 0.01%, and Nasdaq 100 futures rose 0.05%.

Applied Materials shares climbed about 2% in extended trading after the semiconductor equipment supplier reported fiscal second quarter results that beat expectations on the top and bottom lines. Cerebras shares rose 4%, extending gains after the artificial intelligence chipmaker’s public markets debut.

SpaceX is planning to disclose its prospectus as soon as next week, after confidentially filing for an IPO in April, CNBC has learned.

Wall Street is coming off yet another positive session, with both the S&P 500 and Nasdaq Composite closing at record highs. The S&P 500 gained 0.8%, while the Nasdaq climbed 0.9%. The 30-stock Dow closed up 370 points, or 0.8%.

Stocks have been on a record-breaking tear on a renewed fervor around artificial intelligence. However, a peek under the hood is showing that the overall market is lagging the largest tech companies, a divergence that is increasingly worrying some investors as it suggests a fragile rally.

“That broadening trade has really fizzled out,” Keith Lerner, investment chief at Truist Advisory Services told CNBC’s “Closing Bell: Overtime” on Thursday. “We are seeing some of that, kind of, more subdued action in the economy reflected in areas of the market. But … it’s top heavy with tech, and that’s why the broad-based indices are doing fine.”

Investors will continue to watch what comes out of the U.S.-China summit, which concludes Friday after the two countries go over their policies on trade, tariffs and Iran, as well as Taiwan. On Thursday, both the U.S. and China agreed that the Strait of Hormuz must remain open, according to a U.S. readout that was shared by a White House official.

Stocks are headed for a winning week, with the S&P 500 and Nasdaq Composite each headed for their seventh straight week of gains. The Dow is on pace for a sixth winning week in seven.