Dow, S&P 500, Nasdaq futures inch up with gauges on track to end month in the red

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US stock futures ticked up Thursday night as investors returned from the Thanksgiving break, with the Nasdaq Composite poised to break a seven-month winning streak.

Dow Jones Industrial Average futures (YM=F) inched up 0.1%. Contracts tied to the S&P 500 (ES=F) and Nasdaq-100 (NQ=F) made 0.1% gains.

When trading picks back up on Friday, equities will be staring down what’s shaping up to be a losing month. A sharp cooldown in megacap tech has led a decline for November, as investors reassessed how quickly AI-driven businesses can translate hype into sustainable profits.

By Wednesday’s close, both the Dow and S&P 500 were slightly lower for the week, threatening to end a six-month winning stretch. The Nasdaq, down 2% so far, is on track to snap a seven-month run of gains.

At the same time, the broader market is still pacing toward a winning week after a midweek rebound in technology shares. Through Wednesday, the Dow was up more than 2%, while the S&P 500 and Nasdaq Composite had climbed roughly 3% and 4%, respectively. Analysts are beginning to develop predictions for the year ahead, with Deutsche bank setting a target for the S&P 500 of 8,000.

Markets were closed Thursday for the Thanksgiving holiday and will observe an early close at 1 p.m. ET on Friday. Earnings continue at a muted rate with no major releases left for the week.