U.S. Stock Futures Little Changed as Tech Recovers
2022.04.05 01:42
By Oliver Gray
Investing.com – U.S. stock futures were flat in overnight trading Monday after major benchmark indices closed higher during regular trading as market participants bought the dip in technology shares following recent volatility, while monitoring proposed new sanctions against Russia amid mounting evidence of war crimes committed by its forces on the outskirts of Kyiv.
During Monday’s regular trade, The Dow Jones Industrial Average added 103.6 points or 0.3% to 34,921.9, the S&P 500 added 36.8 points or 0.8% to 4,582.63 and the NASDAQ Composite gained 271.05 points or 1.9% to 14,532.6.
Dow Jones Futures eased 0.06%, S&P 500 Futures ticked 0.04% lower and Nasdaq 100 Futures were down 0.05%.
Among stocks, technology heavyweights outperformed on Monday, as Block Inc (NYSE:SQ) added 8.7%, Amazon.com Inc (NASDAQ:AMZN) gained 2.9%, Meta Platforms Inc (NASDAQ:FB) lifted 4%, Apple Inc (NASDAQ:AAPL) gained 2.4% and Alphabet Inc (NASDAQ:GOOGL) lifted 2%. Twitter Inc (NYSE:TWTR) surged 27.1% after Elon Musk took a 9.2% stake in the company.
Ev manufacturers gained as Tesla Inc (NASDAQ:TSLA) added 5.6%, Rivian Automotive Inc (NASDAQ:RIVN) lifted 0.2% and Lucid Group Inc (NASDAQ:LCID) gained 2.7%.
Heavyweight financials were mixed as JPMorgan Chase & Co (NYSE:JPM) added 0.4%, Citizens Financial Group Inc (NYSE:CFG) fell 1.5%, Citigroup Inc (NYSE:C) added 0.9%, Wells Fargo & Company (NYSE:WFC) lost 0.5% and Morgan Stanley (NYSE:MS) gained 0.3%.
On the bond markets, United States 10-Year yields were steady around 2.393%, while the 2-Year yield held at 2.418%.
Investors are awaiting the Federal Reserve meeting minutes Wednesday for further clues on the central bank’s rate-hike path, while first-quarter corporate earnings season is set to begin next week. Market participants are also continuing to monitor oil price volatility amid the supply disruptions stemming from Russia’s invasion of Ukraine as WTI crude jumped more than 4% and traded back above $100 a barrel Monday.
