Stock futures choppy after S&P 500 sets record above 7,800, heads for winning week: Live updates

Stock futures turned choppy early Friday after a record-setting session, with two of the three major benchmarks on pace for their third consecutive weekly advance.

S&P 500 futures hovered just above the flatline, as Nasdaq-100 futures rose 0.11%. But Dow Jones Industrial Average futures edged lower, sliding 71 points or 0.13%.

The S&P 500 on Thursday hit an intraday all-time high of 7,816.70. The benchmark also closed at a record. The tech and communication services sectors were among the big winners in the index, rising roughly 1% each.

Shares in Reddit jumped 12.9% in premarket trading as the company prepares to join the broad-based benchmark on Aug. 18.

Thursday’s gain put the S&P 500 and Nasdaq Composite on pace for their third straight weekly advances. Heading into Friday’s session, the former is up 0.5%, while the latter has advanced 0.4%. The Dow, meanwhile, is down 0.4% week to date.

With more than 90% of S&P 500 companies having posted second-quarter results, earnings growth from the year-earlier period is tracking around 50%, according to FactSet.

“The market is appropriately bullish right now,” Anastasia Amoroso, chief investment strategist at Partners Group, told CNBC’s “Closing Bell” in an interview, noting the strength in U.S. corporate earnings.

Amoroso also noted that software has “rallied and rebounded … I think the market came to the realization that maybe we did not appropriately price in those risks.” Indeed, the iShares Expanded Tech-Software Sector ETF (IGV) is up around 28% over the past six months after tumbling more than 24% in the first quarter. IGV climbed more than 3% on Thursday.

In Europe, the Stoxx 600 moved lower in morning trade and was last seen just below the flatline. The German DAX was up 0.6%, but the French CAC 40 and the U.K.’s FTSE 100 slipped almost 0.1% and 0.2%, respectively. In Asia, Japan’s Nikkei 225 closed 0.59% higher, while South Korea’s Kospi rose 2.42%. Australia’s benchmark S&P/ASX 200 fell 0.80% and mainland China’s CSI 300 closed flat.

There are no major earnings due Friday, but investors will have a look at July retail sales figures at 8:30 a.m. ET. Economists on average expect sales grew by 0.1% month over month, according to Dow Jones.