Stock futures opened higher Thursday evening at the end of a technology-led session on Wall Street, with Big Tech shares propelling the broader market to yet another record high.
Contracts on the S&P 500 rose after the index reached an all-time closing high of 4,097.17 at the end of the regular trading day. The blue-chip index was on track to end the week higher for a third straight week. Dow and Nasdaq futures also added to regular-session gains.
Traders considered more reassurances from Federal Reserve Jerome Powell, who reiterated in remarks Wednesday that the Fed was looking for “actual progress” rather than “forecasts” for progress toward the central bank’s employment and inflation goals. He also underscored the distance still left for the economy to go before reaching these targets and prompting a policy shift, with the recovery in the labor market especially still “uneven and incomplete” to date. A disappointing jobless claims report earlier on Thursday, with new claims unexpectedly climbing for a second straight week, appeared to affirm these sentiments.