Futures edge up 1 inch after sharp rebound on Tuesday

Texas News Today

Trader works on the trading floor of the New York Stock Exchange (NYSE) on August 5, 2021 in Manhattan, New York City, United States.

Andrew Kelly | Reuters

Equity futures rose in overnight trade on Tuesday after the market rebounded from the previous day’s technology-led selloff.

The Dow Jones Industrial Average futures rose 55 points, or 0.2%. S&P 500 futures rose 0.1% and Nasdaq 100 futures rose 0.1%.

On Tuesday, 9 out of 11 S&P 500 sectors turned positive in the regular session and the market was bullish. The Dow rose 312 points, or 0.92%. The S&P 500 rose 1.05% and the Nasdaq Composite Index rose 1.25%.

MegaCap’s tech stock closed higher on Tuesday after a fall in the previous trading session. After prolonged suspensions and whistleblowers claiming to know that Facebook was harming people, Facebook continued to focus.

The financial sector closed Tuesday, rising 1.78% as the S&P 500’s highest-performing segment. Stocks in other sectors also rose on the back of economic recovery. Energy was named as an increase in oil prices. Cruises, airlines and retail stocks also rose.

Manufacturing readings on Tuesday were better than expected, giving us optimism about the economic recovery. The Institute for Supply Management’s September Service Purchasing Managers’ Index report rose 0.2 points from 61.7 in August to 61.9, up 0.2 points from expectations.

Chris Hasee of Goldman Sachs said in a note on Tuesday: “Investors can suggest that the late-summer Delta-led recession is already a thing of the past. Behind the scenes we are leaning toward risk.”

Denim retailer Levi Strauss and alcoholic beverage company Constellation Brands will report their quarterly results on Wednesday.

The September ADP Private Payroll Report will be released on Wednesday. In terms of the labor market, the non-farm payrolls report, which is gaining attention in September, will be released on Friday.


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