Stock futures moved slightly lower on Thursday as investors paused following the best record-breaking streak since late 1991.
S&P 500 futures were down 0.22%, Dow Jones Industrial Average futures fell 0.19%, and Nasdaq futures slipped 0.08%.
Stocks ended Wednesday with their fifth record close in a row, the longest record-making streak since a six-session stretch from late 1991 to early 1992. Donald Trump has largely been given credit for recent gains as he continues to tempt investors with details of a forthcoming tax plan. So far, no details of the president's self-described "massive" tax reform have been divulged, though.
Trump again made vague references to a forthcoming tax reform plan on Wednesday. The president said that a "massive tax plan" would be made public in the "not-too-distant future." Trump made the remarks at a meeting with retail executives, which included the heads of Target (TGT) and Best Buy (BBY) .
Initial jobless claims rose at a slower-than-expected pace in the past week, confirming strength in the U.S. labor market. The number of new claims for unemployment benefits rose by 5,000 to 239,000 in the past week, according to the Labor Department. Analysts expected claims to rise to 245,000. The less-volatile, four-week average climbed by 500 to 245,250.
Housing starts declined in January, while permits increased. Starts in the U.S. fell 2.6% in January to an annual rate of 1.25 million. Starts were expected to come in at 1.22 million following a rate of 1.23 million in December. Permits rose by 4.6% to 1.29 million.