Stock index futures are little changed after Nasdaq closes at record

Stock index futures are little changed after Nasdaq closes at record

U.S. stock index futures were little changed during overnight trading on Tuesday, after the S&P 500 closed just shy of a new record. Futures contracts tied to the Dow Jones Industrial Average advanced 28 points. S&P 500 futures were flat, while Nasdaq 100 futures gained 0.07%. All three major averages finished in the green, reversing losses from earlier in the session amid strength in the technology sector. The S&P 500 advanced 0.5%, to close just 0.2% away from a fresh all-time closing high. The Dow rose 163 points after earlier in the session falling more than 120 points. The Nasdaq Composite was the relative outperformer, hitting a new intraday all-time high and posting a 0.8% gain on the session for a new record close. Federal Reserve Chairman Jerome Powell testified before the House of Representatives on Tuesday, which appeared to lift sentiment as he reiterated that inflation pressures will be . "Powell outlined how the inflation overshoot is from categories directly affected by reopening," said Ed Moya, senior market analyst at Oanda. "He noted there is extremely strong demand and that the supply has been caught flat-footed." In prepared remarks released , the central bank chief reiterated that the economy