Stock futures were little changed as the S&P 500 searches for a second straight week

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 21, 2022.

Brendan McDermid | Reuters

U.S. stock futures were little changed on Thursday night after a rebound on Wall Street.

Futures tied to the Dow Jones Industrial Average rose 27 points, or about 0.1%. S&P 500 and Nasdaq 100 futures contracts were flat.

The move followed a steady session in equities on Wednesday, in which the S&P gained 1.4%, the Nasdaq Composite added 1.9% and the Dow added 349 points. Those gains have largely erased losses from Tuesday.

With one session left for the week, the S&P 500 and Nasdaq rose 1.3% and 2.1%, respectively. Both are on track for their second consecutive winning week. The Dow is down 0.1% in the week to now.

The S&P 500 is now up more than 8% from its recent lows earlier this month. The recovery has come despite no concrete signs of progress in the war in Ukraine and the fact that the Federal Reserve last week indicated it expected some more rallies. interest rates this year, making some Wall Street experts skeptical of the rally.

“I think this is a market that has gone very, very fast assuming the Fed knows exactly what it’s doing and that it’s going to execute it perfectly,” said Lisa Shalett, chief investment officer at Morgan. Stanley Wealth Management, said on “Closing bell: After hours. “” And I just don’t think the risk premium is enough. “

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On Friday, investors will receive fresh consumer sentiment from March as well as pending home sales data from February.

War in Europe could also be the key to the markets. President Joe Biden speaks at a NATO Summit in Brussels on Thursday that the United States will respond if Russia uses chemical weapons in Ukraine.

Christopher Hayes of -CNBC contributed to this report.

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