Stock futures opened slightly higher Wednesday evening to add to gains from the regular session.
Contracts on the S&P 500 ticked above the flat line. Earlier, technology stocks were the leaders during the regular trading day, and the Nasdaq outperformed with a gain of 0.6%.
Shares of work-from-home software stocks Okta (OKTA) and Workday (WDAY) fell in late trading despite posting first-quarter results that beat estimates, with Okta announcing the departure of its chief financial officer. Nvidia (NVDA) shares were also off slightly despite posting estimates-topping first-quarter results. The semiconductor company signaled chip shortages would likely constrain supply in the second half of the year.
The broader stock indexes have drifted this week, with volatility subsiding as investors awaited more economic data that might signal whether inflation would lead to a sustained jump in prices for consumers and producers and push rates higher. This could in turn weigh on stock valuations and put the brakes on the stock rally since last year’s lows.