Futures Try To Rebound From Biggest Market Rout In Over Two Years
Futures Try To Rebound From Biggest Market Rout In Over Two Years US equity futures are trying to rebound after their biggest plunge in more than two years, when the hotter than expected CPI print wiped out 4.3% or $1.5 trillion in market value from the SP, and are up a modest 0.2% at 730am ET, erasing most of an earlier gain of 0.6%. Nasdaq 100 futures rose 0.7% after the tech-heavy gauge tumbled 5.5% in its worst day since March 2020. Ahead of today''s PPI print, the Bloomberg dollar index retreated after jumping the most in three months on Tuesday, while 10-year Treasurys ticked higher, hovering near a decade-peak. Oil was flat now that the traders consider $80 as a "Biden Bottom." In premarket trading, heavyweight tech stocks posted modest gains a day after the Nasdaq 100 Index saw its biggest decline since March 2020. Apple (AAPL US) 1%, Microsoft (MSFT US) 2%. Other notable movers: Starbucks (SBUX US) shares rise 2.3% in premarket trading after the coffee giant raised its three-year outlook for profit and sales at an annual presentation to investors.
Futures Try To Rebound From Biggest Market Rout In Over Two Years
Futures Try To Rebound From Biggest Market Rout In Over Two Years US equity futures are trying to rebound after their biggest plunge in more than two years, when the hotter than expected CPI print wiped out 4.3% or $1.5 trillion in market value from the SP, and are up a modest 0.2% at 730am ET, erasing most of an earlier gain of 0.6%. Nasdaq 100 futures rose 0.7% after the tech-heavy gauge tumbled 5.5% in its worst day since March 2020. Ahead of today''s PPI print, the Bloomberg dollar index retreated after jumping the most in three months on Tuesday, while 10-year Treasurys ticked higher, hovering near a decade-peak. Oil was flat now that the traders consider $80 as a "Biden Bottom." In premarket trading, heavyweight tech stocks posted modest gains a day after the Nasdaq 100 Index saw its biggest decline since March 2020. Apple (AAPL US) 1%, Microsoft (MSFT US) 2%. Other notable movers: Starbucks (SBUX US) shares rise 2.3% in premarket trading after the coffee giant raised its three-year outlook for profit and sales at an annual presentation to investors.