U.S. stock futures slid Wednesday night after the tech-heavy Nasdaq Composite finished above the 20,000 level for the first time.

Futures tied to the Nasdaq 100 slipped 0.2%. S&P 500 futures inched down 0.1%. Dow Jones Industrial Average futures fell 83 points, or about 0.2%.

In extended trading, software giant Adobe declined 9% following the company's weaker-than-expected revenue guidance for the current quarter.

During Wednesday's regular trading session, the Nasdaq gained around 1.8%, topping the 20,000 threshold and posting an all-time high and a closing record. The broad market S&P 500 added 0.8%. Meanwhile, the 30-stock Dow underperformed, falling around 99 points, or 0.2%.

Equities are "rebounding from a poor start to the week," said Mark Hackett, chief of investment research at Nationwide.

To be sure, "Expectations are elevated, and valuations are at the highest level since the technology bubble," Hackett added. "While seasonality and technical tailwinds are supportive through year end, investors are likely to be more discerning and selective next year as risk and reward are scrutinized."

November's consumer price index report also came in line with economists' estimates, leading investors to anticipate another rate cut from the Federal Reserve at its policy meeting next week. The CPI reading, which tracks prices across a basket of goods and services, rose 0.3% month over month and grew at a 12-month rate of 2.7%. Fed funds futures trading data reflects a nearly 99% likelihood that central bank policymakers will lower rates next week, according to the CME FedWatch tool.

Additional inflation data awaits on Thursday morning, with the release of the producer price index report for November. Economists polled by Dow Jones see a 0.2% increase on a monthly basis. Weekly jobless claims are also due.

On the earnings front, chip giant Broadcom, home furnishings company RH and retailer Costco Wholesale are due to post results after the close.

ServiceTitan prices initial public offering at $71 per share

Cloud software company ServiceTitan priced its initial public offering at $71 per share on Wednesday evening.

The figure comes in above the company's expected range. Previously, ServiceTitan had hiked its price range to between $65 and $67.

ServiceTitan is expected to begin trading Thursday on the Nasdaq under the ticker "TTAN."

Read more about ServiceTitan's anticipated debut from CNBC's Jordan Novet.

—Darla Mercado

Stocks making the biggest moves after hours

Check out the companies making headlines in extended trading.

Adobe — The software company fell 8% after issuing lighter-than-expected revenue estimates for the fiscal first quarter. Adobe guided for revenues between $5.63 billion and $5.68 billion in the period, lower than the consensus estimate of $5.73 billion, according to LSEG. Meanwhile, the company's adjusted earnings per share and revenue in the prior quarter topped analysts' forecasts.

Chewy — The pet goods retailer declined nearly 3% in extended trading. The company announced an underwritten public offering of $500 million in shares, which are being sold by Buddy Chester Sub LLC. Chewy won't receive any proceeds from the sale of these shares. The retailer also said it would concurrently purchase $50 million in shares from Buddy Chester.

The full story can be found here.

— Hakyung Kim

Stock futures are little changed Wednesday

U.S. stock futures were flat Wednesday night.

Futures tied to the Nasdaq 100 slipped around 0.2%. S&P 500 futures inched down 0.1%. Dow Jones Industrial Average futures fell 49 points, or 0.1%.

— Hakyung Kim

Correction: An earlier version of this blog post misstated the day of the week.