After the sharp rises in commodity prices, stock futures saw little change Wednesday night after major indexes showed significant gains.

Futures of the Dow Jones Industrial Average fell by about 25 points. S&P 500 futures and Nasdaq 100 futures were both near flat.

Amazon shares rose more than 6 percent in extended trading following the acquisition announcedA 20-for-1 stock split, and a $10 billion buyback. CrowdStrike gained more than 12% within hours of earnings.

The Dow rose 653.61 or 2% in Wednesday’s normal trading session. The S&P 500 climbed 2.6% for its best day since June 2020. For its highest day since November 2020, the Nasdaq Composite saw a 3.6% increase.

These moves were made as oil prices fellAfter trading at higher levels in recent days due to Russia’s invasion, Wednesday was a good day for traders. WTI crude oilDropped more than 12 percent in its worst day ever since November. International benchmark Brent crude oilIts largest one-day fall since April 2020 was 13%.

Silver and wheat were among the other commodities to see significant gains since the conflict in Ukraine. High prices have worried investors about economic growth.

Stock market rally Wednesday was wide-based. Nine out of the 11 sectors were positive and led by technology. The major averages saw gains in Big Tech firms like Meta, Alphabet and others.

Charles Schwab chief investment strategist Liz Ann Sonders stated that it is typical of high-volatility environments in which there can be extreme swings in either direction. A relief rally might be the most accurate way to sum up what took place in the market. … “It’s not surprising to me that there would be a counter-trend.”

Investors eagerly await the Thursday release of February’s consumer prices index. Dow Jones estimates that economists anticipate headline inflation rising by 0.7%, or 7.8%, last month. 

The weekly first jobless claims will also be released Thursday.

Companies such as Rivian, Ulta Beauty, and Oracle will report their quarterly earnings results on Thursday.