Futures Dip Following Dow’s Return Above 50,000

U.S. stock futures moved lower early Friday after the Dow Jones Industrial Average climbed back above the 50,000 mark and the S&P 500 closed above 7,500 for the first time. Investors are also closely monitoring developments from the ongoing U.S.-China summit.

Dow futures slipped 132 points, or 0.26%, while S&P 500 futures declined 0.37%. Nasdaq 100 futures fell 0.6%.

In after-hours trading, shares of Cerebras gained 6%, extending momentum following the company’s debut in the public markets.

Meanwhile, SpaceX is reportedly preparing to release its IPO prospectus as early as next week after confidentially filing in April, according to CNBC.

Wall Street ended Thursday on another strong note, with both the S&P 500 and Nasdaq Composite closing at fresh record highs. The S&P 500 advanced 0.8%, while the Nasdaq gained 0.9%. The 30-stock Dow Jones Industrial Average rose 370 points, or 0.8%.

Markets have continued their record-setting rally, largely fueled by renewed enthusiasm surrounding artificial intelligence. However, some investors remain cautious as gains continue to be heavily concentrated in major technology stocks, raising concerns about the broader market’s underlying strength.

Attention now turns to the conclusion of the U.S.-China summit on Friday, where discussions have focused on trade, tariffs, Iran, and Taiwan. According to a White House readout, both countries agreed Thursday on the importance of keeping the Strait of Hormuz open.

Major indexes are also on track for another strong weekly finish. The S&P 500 and Nasdaq Composite are heading toward their seventh consecutive week of gains, while the Dow is set for its sixth positive week out of the last seven.