U.S. stock futures almost flat after Nasdaq fell to sell-out due to rate hikes

Designated market maker Merrick Greenbaum IMC Financial looked up at the board of directors before the opening bell just before the New York Stock Exchange closed on March 9, 2020 in New York.

Timothy A. Clary | AFP | Getty Images

US stock futures were almost flat after the Nasdaq plunged on Tuesday night, the worst day since March.

The Dow Jones Industrial Average futures contract rose 78 points, or 0.23%. S & P 500 and Nasdaq 100 futures were added by 0.16% and 0.08%, respectively.

Shares of semiconductor company Micron fell more than 4% in extended trading after reporting earnings and earnings outlook for the first quarter of 2022, which missed a consensus quote.

In normal trading, the Nasdaq Composite fell 2.83% to 14,546.68, the worst day since March. The S & P 500 fell 2.04% and the Dow Jones Industrial Average fell 569.38 points, or 1.63%.

The Dow and S & P fell 3% in September. Nasdaq is down more than 4.5%.

The industry-wide share price fell as the Treasury’s benchmark yield reached a high of 1.567% on Tuesday for 10 years. Facebook, Microsoft and Alphabet fell by more than 3%, and tech stocks fell in a wide range of markets. Amazon has fallen by more than 2%. Rising bond yields will hurt growth stocks, including tech stocks, as they reduce the relative value of future returns. Technology-intensive Nasdaq has recorded a 10th day down in the last 15 sessions.

Bryan Price, Head of Investment Management at the Commonwealth Financial Network, said: “Even if interest rates rise moderately from here on the back of falling inflation expectations, it’s not surprising to see the market rise again in the fourth quarter.”

The debt cap debate in Washington was not only focused on equities, but also continued concerns about supply chain problems and rising consumer prices.Federal Reserve Board Chair Jerome Powell told the Senate Banking Commission on inflation on Tuesday. May last longer than expected As a result of supply chain problems and resumption pressure.

Charlie Ripley, senior investment strategist at Allianz Investment Management, said: “Today’s interest rate sellouts suggest how the Fed can quickly abolish emergency stimulus, and how financial stimulus can influence it. It reminds me of. ” “This is an unpleasant time for market participants, as the Fed’s abolition of support is about to begin and the stock market needs to learn how to become self-reliant again, but keep in mind that the Fed is unlikely to move forward. If they don’t think the economy is ready, they will taper bond purchases. “

Pending home sales data will be released Wednesday.

U.S. stock futures almost flat after Nasdaq fell to sell-out due to rate hikes

Source link U.S. stock futures almost flat after Nasdaq fell to sell-out due to rate hikes

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