Inventory futures are down barely after a 400-point acquire within the Dow

Traders at the New York Stock Exchange (NYSE) react as a screen shows Federal Reserve Chairman Jerome Powell during a news conference following the Fed’s interest rate announcement in New York, 2022. July 27

Brendan Mcdermid | Reuters

Stock futures fell on Wednesday night after the major averages fell over two days, led by strong earnings and better June and July results. economic reports that kept investors from thinking about the possibility of a recession.

Futures tied to the Dow Jones Industrial Average fell 23 points, or 0.07%. S&P 500 futures were down 0.1%, while Nasdaq 100 futures were down 0.2%.

In regular after-hours trading, all three major averages ended the day higher. The Dow rose more than 400 points, while the S&P 500 hit its highest level since June. The tech-heavy Nasdaq Composite jumped about 2.5%.

Investors got a green light to return to battered tech names after a surprise rebound in July services PMI and comments from St. Louis Federal Reserve President James Bullard. Bullard said he doesn’t think the US is in a recessionciting job gains and low unemployment.

“Tensions between the US and China remain high and the Fed remains tight-lipped on inflation, but earnings were sufficient to fuel the next phase of the rebound,” Barclays said. “The wave of tech quarterly releases came in better than expected [technology, media and entertainment, and telecommunications] complex led the S&P 500 to a new QTD high.

Investors will get another slice of earnings on Thursday. Eli Lilly, Kellogg, Alibaba and ConocoPhillips are among those to report quarterly results before the bell.

According to economic data, investors await weekly unemployment benefits in the morning. Cleveland Federal Reserve Bank President Loretta Mester speaks at the Economic Club of Pittsburgh.

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