Investing.com - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

US STOCKS-Futures point to gains for tech-related stocks as bond yields ease

Published 03/22/2021, 07:16 PM
Updated 03/22/2021, 07:20 PM
© Reuters.
NDX
-
US500
-
DJI
-
INTC
-
MSFT
-
AAPL
-
TUR
-
CP
-

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window.)
* Futures: Dow down 0.24%, S&P up 0.04%, Nasdaq rises 0.83%

By Medha Singh
March 22 (Reuters) - Futures tracking the S&P 500 and the
Nasdaq rose on Monday, with heavyweight technology stocks set to
rebound after a surge in bond yields in recent weeks sparked a
flight from richly valued equities.
A sharp run up in Treasury yields since mid-February has
dictated the course of equities trading, while weighing on
high-growth tech stocks, whose valuations look stretched.
Futures tied to the tech-heavy Nasdaq 100 climbed about 0.9%
to start the week. The index .NDX is still down more than 6%
from its Feb. 12 record closing high.
The S&P 500 .SPX and the Dow .DJI , however, clinched
all-time highs as early as last week on bets that stimulus and
vaccine rollouts would lead to a strong rebound in the U.S.
economy.
Kansas City Southern KSU.N jumped about 17% after Canadian
Pacific Railway Ltd CP.TO agreed to acquire the railroad
operator in a $25 billion cash-and-stock deal to create the
first railway spanning the United States, Mexico and Canada.
At 06:34 a.m. ET, Dow E-minis 1YMcv1 were down 79 points,
or 0.24%, S&P 500 E-minis EScv1 were up 1.75 points, or 0.04%
and Nasdaq 100 E-minis NQcv1 were up 106.75 points, or 0.83%.
Intel Corp INTC.O , Microsoft Corp MSFT.O and Apple Inc
AAPL.O led gains among Dow components in trading before the
bell.
Big U.S. lenders including Goldman Sachs GS.N , Citigroup
C.N and Bank of America BAC.N , which have enjoyed a rally on
brightening economic prospects, slipped about 1% each.
The iShares MSCI Turkey ETF TUR.O sank about 19% as
President Tayyip Erdogan's decision to oust a hawkish central
bank governor sparked fears of a reversal of recent rate hikes.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.