DOW

December E-mini S&P 500 futures pushed sharply higher on Thursday after buyers defended a key short-term retracement level and reclaimed important technical ground. Technology shares led the rebound, but resilient labor data and weaker housing figures kept the rally tied to the path of rates and inflation.

The S&P 500 and Dow advanced to record highs as falling oil prices eased inflation concerns and stronger earnings gave buyers fresh support. Caterpillar’s improved outlook and Palantir’s strength helped broaden participation beyond the biggest technology names.

September E-mini S&P 500 Index futures are slightly lower early Wednesday, but remain above a closely watched technical support cluster. Traders are weighing stronger crude prices, pending Fed minutes and semiconductor pressure that has left the Nasdaq-100 looking more vulnerable than the Dow or S&P 500.