Traders work on the floor of the New York Stock Exchange.
Spencer Platt | fake images
Stock futures rose Thursday morning after the market's recent rally took a breather.
S&P 500 Futures added 0.39%, while the Nasdaq 100 Futures advanced 0.48%. Futures related to the Dow Jones Industrial Average rose 56 points, or 0.4%.
Micron jumped more than 4% in post-market action after beating Wall Street expectations during the first three months of its new fiscal year. The company also provided guidance for the current quarter that topped analysts' consensus estimates.
The movements follow a Day of losses on Wall Street, during which investors took profits after recent gains. He S&P 500 fell almost 1.5%, its worst day since September.
He Dow and Nasdaq They fell about 1.3% and 1.5%, respectively, to record their worst sessions since October. Wednesday's session also snapped nine-day winning streaks for both.
These declines represent a respite after the recent market rally. From their late October closing lows through Tuesday, the Dow and S&P 500 are up more than 15%. The Nasdaq Composite rose about 19% during the same period.
"Markets have run so strongly for so long," said Rob Haworth, investment strategist at US Bank Asset Management. "Maybe there is some exhaustion in terms of buyers and we are starting a sort of short-term consolidation phase."
Investors will be watching data on jobless claims and third-quarter gross domestic product on Thursday ahead of Friday's reading of the personal consumption expenditures price index, which is a closely watched gauge of inflation. Traders will also monitor Nike Earnings are expected Thursday after the bell.
