Stock futures are little changed as investors assess pause in November rally: Live updates

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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. 

Brendan Mcdermid | Reuters

Stock futures are flat Monday night as traders analyzed the strong gains seen throughout November and the trading month nears its end.

Dow Jones Industrial Average futures added just 24 points, or 0.1%. S&P 500 and Nasdaq 100 futures were both near flat.

Shares of Zscaler slid nearly 7% in after-hours action. The cloud security company maintained its expectations for fiscal 2024 billings of $2.52 billion to $2.56 billion. Zscaler otherwise posted adjusted earnings and revenue that came ahead of expectations in the fiscal first quarter.

The moves follow a losing day on Wall Street. The Dow and S&P 500 both finished Monday’s session around 0.2% lower, while the Nasdaq Composite inched down nearly 0.1%.

Monday’s modest retreat comes near the end of November’s strong trading month, which concludes with Thursday’s close. The Dow and S&P 500 are on pace to finish the month 6.9% and 8.5% higher, respectively. The technology-heavy Nasdaq has climbed 10.8% in November.

Investors paid particular attention to stocks tied to online shopping during the Cyber Monday trading session. “Buy now, pay later” stock Affirm popped nearly 12%. Shopify jumped almost 5%, while Amazon advanced 0.7%.

“On balance, equities appear to be in pause mode following strong November returns and in anticipation of holiday spending trends,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “The tug of war between bull and bear camps remains balanced. And that, in our view, suggests that market chop is perhaps more the norm versus exception.”

Traders will follow economic data on topics including housing prices and consumer confidence due Tuesday morning. On the earnings front, CrowdStrike is expected to report earnings after the bell.

Investors will also track a slate of Federal Reserve officials set to deliver remarks throughout the day. Those speakers include Chicago Fed President Austan Goolsbee, as well as Fed Governors Christopher Waller and Michelle Bowman.