Category: News

Here’s what we’re watching ahead of Thursday’s opening bell.

—Stock futures advanced, indicating that shares of giant technology companies would push higher at the opening bell as investors awaited a fresh reading on the labor market.

Dow Jones Industrial Average futures edged up 0.3%. The blue chips index, which has a smaller concentration of tech stocks, has outperformed the S&P 500 this year. That is because improved economic prospects are fueling bets on sectors such as banking and energy, which would benefit from a rebound, and away from the technology stocks that rallied during Covd-19 lockdowns last year.

“We have seen a genuine rotation from growth to value,” said Altaf

U.S. stock futures rallied Tuesday as a recent selloff in government bonds paused and giant technology stocks recovered some ground.

Futures tied to the S&P 500 gained 0.8%, suggesting that the broad market benchmark may climb after the New York opening bell. Dow Jones Industrial Average futures edged 0.5% higher. The blue-chips index notched a new intraday record on Monday.

Futures linked to the Nasdaq-100 rallied 2% Tuesday, indicating that technology shares are likely to rebound. The tech-heavy index and the broader Nasdaq Composite Index both fell into correction territory Monday, meaning that the gauges have declined more than 10% from recent highs.

Technology shares have come under pressure in recent weeks as a wave of selling in the bond market lifted Treasury yields. That led investors to question the high valuations that the technology sector is trading at following its steep climb in 2020.

The yield on the 10-year

Here’s what we’re watching before Monday’s trading action begins.

—U.S. stock futures dropped and a selloff in U.S. government bonds extended into its sixth week after progress toward a new fiscal stimulus bill brightened economic prospects and sapped demand for technology stocks.