Stock futures are trading slightly lower, but the S&P 500 is heading for a winning week

Stock futures fell slightly on Friday morning as investors ended a winning week for markets that saw better-than-expected economic growth and market darling Tesla.

Futures contracts linked to the Dow Jones Industrial Average fell 24 points. S&P 500 futures fell 0.3%, while Nasdaq 100 futures fell 0.5%. Intel shares fell more than 9% in after-hours trading, after a Dismal earnings report Which missed the upper and lower lines.

Shares rose during regular trading Thursday, with better-than-expected cheers GDP report for the fourth quarter This boosted hopes that the US economy could face a soft landing as the Federal Reserve raised interest rates to tame inflation.

The Dow Jones Industrial Average rose more than 205 points, or 0.61%, for its fifth straight session, the first such streak since October. The S&P 500 rose 1.10% and the heavy Nasdaq Composite jumped 1.76%.

All three indicators are positive for the week and month. The Dow Jones and the Standard & Poor’s are up 1.7% and 2.2% this week, respectively. The Nasdaq rose 3.3% for the week and is set to post its best monthly performance since July. Nasdaq has gained the past four weeks.

“This year’s stock market rally is impressive and should not be ignored,” said Chris Zaccarelli, chief investment officer, Alliance of Independent Advisers. he said in a note Thursday. “Unfortunately, the Fed is likely to start talking about the market again, as early as next week, so prepare for volatility again this year; We may be in the center of a hurricane and not quite out of the woods yet.”

Tesla closed Thursday with an 11% gain after earnings and revenue for the most recent quarter beat expectations, and CEO Elon Musk predicted the automaker could produce two million vehicles this year. The widely watched stock fell 65% last year to lead a rout in the growth segment. Shares are up more than 30% this year.

On Friday, investors will be watching economic reports that will give more information about the state of inflation. Personal income, spending and pending home sales for December are due in the morning. The Personal Consumption Expenditure Price Index, which is the Fed’s preferred measure of inflation, is as expected. Consumer sentiment for the month of January will also be released.

It’s some of the last data to be released before the Fed’s upcoming interest rate decision on February 1st. Investors are currently expecting a 0.25 percentage point rate hike from the central bank.

Earnings season continues, too. American Express, Colgate-Palmolive and Chevron are scheduled to report quarterly results on Friday. Investors may be watching Chevron’s report closely after the company announced $75 billion to buy back shares and increase the dividend on Wednesday.