Stock futures opened higher Thursday evening at the end of a technology-led session on Wall Street, with Big Tech shares propelling the wider 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 greater for a 3rd straight week. Dow and Nasdaq futures likewise included to regular-session gains. Traders considered more reassurances from Federal Reserve Jerome Powell, who repeated in remarks Wednesday that the Fed was looking for “real progress” rather than “forecasts” for progress towards the reserve banks work and inflation objectives. He also highlighted the range still left for the economy to go before reaching these targets and triggering a policy shift, with the healing in the labor market particularly still “incomplete and uneven” to date. A disappointing jobless claims report earlier on Thursday, with brand-new claims suddenly climbing for a second straight week, appeared to verify these beliefs. Treasury yields have come back down as worries over a near-term Fed policy shift deflated, triggering investors to circle back to growth stocks and large-cap tech names in particular that would gain from a lower-rate environment. Microsoft, Alphabet and Facebook each notched record intraday and closing highs throughout Thursdays session. These relocations back into tech stocks, however, have actually come at the expenditure of a few of the cyclical and worth names that had been outperforming previously this year. The S&P energy and financials sectors have lagged over the past month, though they remain the two top exceeding sectors when looking back over 2021 to date. ” Weve seen this rotation into more value-oriented names from growth to worth, however as we participate in revenues season, we expect growth names to see rather of a rebound because we anticipate strong earnings coming out of the development names,” Colleen MacPherson, Penobscot Investment Management portfolio supervisor, informed Yahoo Finance. “But in general, I think the pattern into value, small caps, more cyclical names will continue as the economy reopens and more individuals are inoculated and we return to normalcy.” Story continues– 6:00 p.m. ET Thursday: Stock futures rise after tech-led session Heres where markets were trading Thursday evening: S&P 500 futures (ES= F): 4,096.75, up 7.75 points or 0.19% Dow futures (YM= F): 33,446.00, up 56 points or 0.17% Nasdaq futures (NQ= F): 13,785.50, up 37.75 points or 0.27%– Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcckRead more from Emily:

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