U.S. stock futures rallied Tuesday as a recent selloff in federal government bonds paused and giant innovation stocks recuperated some ground.
Futures connected to the S&P 500 got 0.8%, suggesting that the broad market criteria might climb after the New York opening bell. Dow Jones Industrial Average futures edged 0.5% higher. The blue-chips index notched a new intraday record on Monday.
Futures linked to the Nasdaq-100 rallied 2% Tuesday, suggesting that innovation shares are likely to rebound. The tech-heavy index and the broader Nasdaq Composite Index both fell under correction area Monday, indicating that the assesses have declined more than 10% from recent highs.
Technology shares have actually come under pressure in current weeks as a wave of selling in the bond market lifted Treasury yields. That led financiers to question the high appraisals that the technology sector is trading at following its high climb in 2020.
The yield on the 10-year Treasurys ticked lower to 1.530% on Tuesday. It had ended the previous day at 1.594%, the highest level in over a year.