Stock futures fall, but Wall Street is still on track for a winning week: Live updates

Stock futures fell Friday, but the major U.S. averages remained on pace to post weekly gains.

Futures tied to the Dow Jones Industrial Average were down 78 points, or 0.2%. S&P 500 futures shed 0.3%, and Nasdaq-100 futures lost 0.4%.

Nvidia shares fell slightly in the premarket. Meta Platforms and Alphabet were also lower.

The moves in futures come after a modestly positive day on Wall Street.

On Thursday, the Dow rose about 462 points, or 1.06%, and the S&P 500 added 0.53%. The Nasdaq Composite was little changed, closing 0.03% higher. Shares of Nvidia closed up 0.5% after an earnings beat.

All three major averages are on track for a positive week, led by the Nasdaq Composite's gain of 1.56%. That's a change from last week, when Wall Street's postelection rally appeared to stall.

"I think markets are finally finding their footing for two reasons: One is recovery from that postelection hangover after the first week, and [two is] reaction to Nvidia's earnings," Nuveen CIO Saira Malik said on "Closing Bell."

Earnings reports were driving market action in extended trading. Shares of Gap jumped 15% after the company beat earnings estimates and hiked its full-year sales guidance. However, Intuit slid more than 5% even after its quarterly report beat expectations on the top and bottom lines.

On Friday, investors will get a look at preliminary purchasing managers index reports for November, as well as an updated consumer sentiment reading.

Investors will also keep an eye on bitcoin, which is trading just under the long-awaited milestone of $100,000.

Stocks likely to rebound from early Friday losses, Vital Knowledge says

Don't sweat the early losses in futures too much, advised Adam Crisafulli of Vital Knowledge.

"Stocks are getting hit in Europe and the US following some downbeat Eurozone flash PMI data, although the magnitude of the S&P futures pullback at 4amET is more a reflection of thin liquidity than extremely negative news, and thus it's likely prices will rebound," he said in a note.

— Fred Imbert

Gap, Ross Stores climb after earnings reports

Two retail stocks surged in after hours trading following their quarterly reports.

Shares of Gap climbed 15% after beating estimates on the top and bottom lines and raising its full-year sales guidance. Ross Stores popped 7% after reporting earnings per share of $1.48, ahead of the $1.40 projected by analysts, according to LSEG.

Check out more after hours movers here.

— Jesse Pound

Nasdaq, Dow and S&P 500 on track for winning weeks

Wall Street is headed for its second positive week in three across the board, if the stock market holds up on Friday.

• The Nasdaq Composite is up 1.56% week to date
• The S&P 500 is up 1.33% week to date
• The Dow is up 0.98% week to date.

Additionally, Thursday's 1.06% rally for the Dow was its best day since Nov. 6.

— Jesse Pound, Christopher Hayes

Texas Pacific Land to join S&P 500

Energy stock Texas Pacific Land is set to join the S&P 500 next week, with current constituent Marathon Oil being officially acquired by ConocoPhillips.

S&P Dow Jones Indices announced the move as part of a series of index changes on Thursday evening. In corresponding moves, Mueller Industries will slide up to the S&P MidCap 400, and Atlas Energy Solutions will join the S&P SmallCap 600.

The moves will take effect prior to the open of trading on Nov. 26.

Texas Pacific Land, based in west Texas, has a market cap of around $35 billion.

— Jesse Pound

Stock futures open lower

Stock futures opened slightly lower on Thursday evening.

Nasdaq 100 futures saw the biggest move, falling about 0.2%. Dow and S&P 500 futures were down around 0.1%.

— Jesse Pound