Stock futures fall slightly as S&P 500 tries to notch its best week since November 2020

The S&P 500 is poised to post its biggest weekly gain in more than a year as stock futures dipped in overnight trading.

The index futures fell 120 points. The S&P 500 futures were down and the 100 futures were down.

The Federal Reserve's decision to tighten policy largely met investor expectations as stocks enjoyed a relief rally this week. The S&P 500 is on track for its best week since November 2020.

The blue-chip Dow is up 4.7% for the week so far, and is on track for its biggest weekly gain since November 2020. The tech-laden index is headed for its best week in more than a year.

The central bank hiked its benchmark interest rate for the first time in over a year.

John Vail said that investor expectations for inflation over the next five years was brought down quite a bit, which will be helpful for the Fed and the markets despite higher interest rates.

As the war rages on, investors keep an eye on the news out of Ukraine and Russia. Ukrainian officials said that Russian attacks have resulted in many civilian deaths.

According to sources, Russia was able to pay coupons on its bonds. Russia may have been able to avoid a historic debt default for the time being.

The U.S. oil benchmark, West Texas Intermediate crude futures, jumped more than 8% and bounced back above $100 per barrel on Thursday.

FedEx's shares fell more than 1% in after-hours trading after the delivery firm posted a lower-than- expected quarterly profit.

The video game retailer's shares dropped 10% in extended trading after it reported a loss. The company will launch a new marketplace for NFTs by the end of April.