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Equity futures changed little after Tuesday’s daytime comeback

US equity futures were largely flat on Tuesday evening as investors determined whether midnight market volatility would continue until Wednesday.

The Dow Jones Industrial Average futures contract rose about 41 points, or 0.1%. Those related to the S & P 500 and Nasdaq 100 also rose by about 0.1%.

The movement of futures is as follows Wild comeback during market hours on Tuesday The Dow and S & P 500 have eliminated sharp losses and closed at reasonably high levels. The positive finish snapped a 5-day skid on the S & P 500. The Nasdaq Composite fell almost 4% in points, but ended with a loss of only 0.5%.

The rebound began after Federal Reserve Board Chair Jerome Powell announced the statements he had prepared for a hearing with the Senate Banking Commission. Central bank chiefs say inflation is “soft” and the US economy is “soft”Far from employment and inflation goals“Bond yields have risen in recent weeks, raising concerns that the Fed may change its dovish policy stance.

Marsima Kregor, Senior Investment Strategist at Bank of America Merrill Lynch, said:Closing bell“Market sentiment pointed out the necessary pullbacks, but the overall stock setting remained positive.

“We are still making money on new economic expansions. Our view is in the long-term, long-term bull market,” McGregor said. “I heard from Jay Powell today that he still seems to be stepping into gas.”

The market-wide rebound on Tuesday was reflected in the move of tech giants Apple And electric vehicle inventory TeslaEnded with losses of 0.1% and 2.2%, respectively, after suffering significant losses early in the day. Energy stocks and finance have outperformed, but technology and consumer discretionary play has lagging behind the wider market.

Bitcoin also struggled on Tuesday, Below the $ 50,000 level.

Powell’s visit to Capitol Hill continues as he addresses the House of Representatives Financial Services Commission on Wednesday. Investors will also look again at the construction industry with data on new home sales and earnings reports from Loews.

Equity futures changed little after Tuesday’s daytime comeback

Source link Equity futures changed little after Tuesday’s daytime comeback

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