Stock futures opened higher Thursday evening after a mixed session in the markets, with both earnings and inflation data remaining at the center of investor attention.
Contracts on the S&P 500 edged higher. Earlier Thursday, the index rose for the first time in three sessions, buoyed by a jump in technology stocks that posted a rebound after a drop on Wednesday. The index was on track to end the week marginally lower after five straight weeks of gains, but still held just slightly below all-time highs.
“We’ve got a market that is just incredible. No matter what it’s going up, and that shouldn’t be much a surprise given how much money has been pushed into the system,” Lenore Hawkins, Tematica Research chief macro strategist, told Yahoo Finance Live. “There’s just a lot of money chasing not a whole lot of alternatives.”
That said, a hotter-than-expected inflation print earlier this week was one key concern for investors, and reinforced that elevated price pressures were not as fleeting as many had initially expected during the recovery.