US stock futures rose slightly in Tuesday’s early morning trading after the stock fell in the regular session.
Dow’s futures rose 85 points. S&P 500 futures gained 0.27% and Nasdaq 100 futures rose 0.35%.
On Tuesday, the main averages returned some of Monday’s sharp gains. The Dow Jones Industrial Average lost 143 points, pressured by a 2.6% drop in Intel. The S&P 500 recorded a loss of about 0.8%.
The Nasdaq Composite performed relatively poorly, falling about 1.7%, with Facebook, Microsoft, Amazon, Apple, Netflix and Alphabet, Google’s father, closed down. The Russell 2000 small cap benchmark fell 1.93%.
“On a day with little important news and ahead of the important news to come soon – Fed meeting and job numbers – investors took the opportunity to reap some profits from yesterday’s big recovery,” said Jim Paulsen, chief strategist Leuthold Group’s investment portfolio. CNBC. Tuesday’s “worst performance, technology, was yesterday’s biggest winner”.
The 10-year Treasury yield, watched closely by investors recently, fell to 1.40% on Tuesday. Yield rose to a 1.6% high last week, raising concern among investors about higher borrowing costs and inflation.
“Overall, the dive purchase is alive and well,” added Paulsen. “Despite some turbulent days, the S&P 500 has risen 1.55% so far this week, dominated by the reopening of parts including materials, industrial, financial and energy, with technology being a market player.”
President Joe Biden said on Tuesday that the United States will have a large enough supply of coronavirus vaccines to vaccinate all adults in the country by the end of May. That would be two months ahead of schedule. The launch of the vaccine is seen as a key part of getting Americans back to work and for the recovery of the economy.
February’s private payroll data is due at 8:15 am on Wednesday. This will give investors a reading of the labor market. Economists polled by Dow Jones expect 225,000 private jobs to be created in February, more than the 174,000 created in January.
Brown-Forman, Dollar Tree and Wendy’s report quarterly earnings ahead of the bell on Wednesday.
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