Stock futures traded slightly higher Monday evening after falling during the regular session, with technology stocks underperforming and dragging the Nasdaq lower as inflation concerns persisted.
Contracts on the S&P 500 opened a tick above the flat line, after the index posted its first decline in three days during Monday’s regular trading day. Dow and Nasdaq futures also opened in the green.
Technology stocks renewed a run of underperformance after a brief rebound late last week, with concerns over inflation and higher rates threatening to weigh on valuations of high-growth stocks. The information technology sector has increased by just 3.4% for the year-to-date through Monday’s close, far underperforming the broader index’s 10.8% gain over that time period and coming in as the worst performer of the index’s 11 sectors. Last year, the information technology sector was the biggest outperformer.
“Markets have basically made inflation the…