US stock futures rose slightly during Tuesday night trading after stocks fell during the regular session.
Dow futures were up 55 points. S&P 500 futures were up 0.15% and Nasdaq 100 futures were up 0.19%.
On Tuesday, the big averages gave some back their sharp rise from Monday. The Dow Jones Industrial Average lost 143 points, under pressure from Intel’s 2.6% decline. The S&P 500 recorded a loss of about 0.8%.
The Nasdaq Composite was the relative underperformer, falling about 1.7% as Facebook, Microsoft, Amazon, Apple, Netflix and Google parent Alphabet closed lower. The small-cap benchmark Russell 2000 fell 1.93%.
“On a day with little major news and in anticipation of major news coming soon – Fed meeting and the job figures – investors took the opportunity to take some profit from yesterday’s great recovery,” said Jim Paulsen, chief investment strategist at the Leuthold Group. CNBC. Tuesday’s worst performer, Technology, was yesterday’s biggest winner.
The yield on 10-year Treasury bonds, recently closely watched by investors, fell to 1.40% on Tuesday. Yields rose to a high of 1.6% last week, leaving investors worried about higher funding costs and inflation.
“Overall, buying on the dip is alive and kicking,” added Paulsen. “Despite a few turbulent days, the S&P 500 is up 1.55% so far this week, dominated by reopening plays including materials, industry, finance and energy, with technology a market performer.”
President Joe Biden said late Tuesday that the US will have a large enough supply of coronavirus vaccines by the end of May to vaccinate every adult in the nation. That would be two months ahead of schedule. The rollout of vaccines is seen as an important part of getting Americans back to work and the recovery of the economy.
The private salary data for February is due Wednesday at 8.15am. This gives investors insight into the labor market. Economists surveyed by Dow Jones expect 225,000 private jobs to be added in February, more than the 174,000 added in January.
Brown-Forman, Dollar Tree and Wendy’s report quarterly figures for the bell on Wednesday.
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