Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Stock futures decline after tech shares continue their sell-off

by
November 24, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Apple CEO Tim Cook praises China’s innovation, long history of cooperation on Beijing visit

The market’s initial reaction to a Fed rate hike is ‘almost always a head fake,’ Jim Cramer says

Traders work on the floor of the New York Stock Exchange (NYSE) on November 15, 2021 in New York City.

Spencer Platt | Getty Images

U.S. stock futures were lower early Wednesday morning after a two-day sell-off in tech shares, pressured by rising rates which boosted energy and financial stocks.

Dow Jones Industrial Average futures shed 118 points. S&P 500 and Nasdaq 100 futures hovered in mildly negative territory.

Retail stocks took a hit in extended trading following quarterly results. Nordstrom tumbled about 23% and Gap fell around 16%. Both companies reported earnings misses for the most recent quarter.

Computer hardware company HP’s shares got a more 7% after-hours lift from company earnings that beat on the top and bottom lines and higher first-quarter earnings guidance.

In regular trading, however, most tech stocks were in the red. The tech-heavy Nasdaq Composite lost 0.50% in Tuesday’s session, while the S&P 500 added 0.17% and bank and energy stocks helped push the Dow Jones Industrial Average 194 points higher.

The divergence in the sectors moved in tandem with Treasury yields, which tend to lift bank stocks and crush tech and other high-growth companies. Yields have been rising since President Joe Biden’s renomination of Jerome Powell as chairman of the Federal Reserve on Monday.

“It’s certainly a story of more rotation,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. “The market is now with the Powell renomination thinking this is a reopening story, which sets aside any of the risks or concerns we might have about rising Covid infection rates.”

On Friday, just before the announcement of Powell’s renomination, investors were spooked by a resurgence of Covid-19 in Europe, which pushed tech shares higher.

Trading could slow in the coming days due to the Thanksgiving holiday, but investors will be watching a slew of economic data due out Wednesday, including weekly unemployment claims, a GDP update, personal income, consumer confidence reads and Federal Reserve FOMC minutes.

Most, though not all, companies have reported their financial results for the third quarter. Deere is scheduled to report before the bell Wednesday.

ShareTweetPin

Related Posts

Apple CEO Tim Cook praises China’s innovation, long history of cooperation on Beijing visit

by
March 25, 2023
0

The world's biggest iPhone factory, located in China and run by Foxconn, faced disruptions in 2022. That is likely to...

The market’s initial reaction to a Fed rate hike is ‘almost always a head fake,’ Jim Cramer says

by
March 25, 2023
0

CNBC's Jim Cramer said on Friday that this week was the latest example of the market gone crazy after a...

Biden says federal deposit insurance could be tapped further if banks fail

by
March 25, 2023
0

The Federal Deposit Insurance Corp. (FDIC) headquarters in Washington, DC, US, on Monday, March 13, 2023. Al Drago | Bloomberg...

Foundation of China’s economic recovery not solid enough, party official says

by
March 25, 2023
0

A general view shows the skyline over the Central Business District in Beijing on February 28, 2023. Jade Gao |...

Jack Dorsey’s Wealth Tumbles $526 Million After Hindenburg Short

by
March 25, 2023
0

S&P 500 3,970.99 +22.27(+0.56%)   Dow 30 32,237.53 +132.28(+0.41%)   Nasdaq 11,823.96 +36.56(+0.31%)   Russell 2000 1,734.92 +14.63(+0.85%)   Crude...

Next Post

MBA: Mortgage Applications Increase in Latest Weekly Survey

Energy Storage Is the Next ‘Mega Theme;’ These 2 Stocks Are Poised to Benefit

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com