Feb 23, 2021
Stock futures little changed after Tuesday's intraday comeback
This news has been received from: CNBC
All trademarks, copyrights, videos, photos and logos are owned by respective news sources. News stories, videos and live streams are from trusted sources.
VIDEO1:2201:22I'm encouraged by the price action we're seeing, says JPM's AmorosoClosing Bell
U.S. stock futures were largely flat on Tuesday evening as investors looked to see whether a late-day swing in the market would continue into Wednesday.
Futures contracts for the Dow Jones Industrial Average and the S&P 500 hovered near the flat line, while those tied to the Nasdaq 100 slipped 0.1%.
The move in futures follows a wild comeback during Tuesday's market hours that saw the Dow and S&P 500 erase sharp losses to finish modestly higher. The positive finish snapped a five-day skid for the S&P 500. The Nasdaq Composite, which was down nearly 4% at point, finished with a loss of just 0.5%.
The rebound began after Federal Reserve Chair Jerome Powell released his prepared remarks for a hearing with the Senate Banking Committee, with the central bank chief saying that inflation was "soft" and that the U.S. economy was "a long way from our employment and inflation goals." Bond yields had perked up in recent weeks, feeding fears that the Fed might alter its dovish policy stance.
Marci McGregor, senior investment strategist at Bank of America Merrill Lynch, said on "Closing Bell" market sentiment pointed to a needed pullback but the overall setup for stocks remained positive.
"We're still in the earnings of a new economic expansion. Our view is we're in a long-term secular bull market," McGregor said. "We heard from Jay Powell today, and it sounds like he still has his foot on the gas."
The market's overall rebound on Tuesday was mirrored in the moves of tech giant Apple and electric-vehicle stock Tesla, which finished with losses of 0.1% and 2.2%, respectively, after suffering much steeper losses earlier in the day. Energy stocks and financials outperformed, while tech and consumer discretionary plays lagged the broader market.
Bitcoin also struggled on Tuesday, falling back below the $50,000 level.
On Wednesday, Powell's visit to Capitol Hill will continue when he addresses the House of Representatives Financial Services Committee. Investors will also get another look at the construction industry with data on new home sales and an earnings report from Lowe's.Related Tags
- Breaking News: Markets
- World Markets
- Investment strategy
News Source: CNBC
Neuer’s beautiful dumpling – Latest News, Breaking News, Top News Headlines
The Bayern goalkeeper almost relaunched Cologne on Saturday for the 23rd day of the Bundesliga.
The score suggests a one-sided game, or almost. And yet. Cologne, beaten 5-1 this Saturday on the lawn of Bayern Munich, would have deserved to get back on the heels of the European champion at the start of the last quarter of an hour of this match counting for the 23rd day of the Bundesliga.
We play the 75th minute when Neuer manual leaves his area to go intercept the ball that covets Dominick drexler on the right flank of the attack. The Bavarian goalkeeper then makes a nice hole while trying to dribble the middle of Cologne. The latter scratches the leather and rushes towards the deserted goals. His strike struck one of the Munich uprights.
???? Ohhh Neuer’s dumpling !!! pic.twitter.com/y5wsIJjCke
– beIN SPORTS (@beinsports_FR) February 27, 2021
With a little bit of success, Cologne would have returned to 2-3… Instead, Serge Gnabry added a double in four minutes (82nd, 86th), definitively killing the little suspense that remained then.
Bayern correct Cologne and keep the lead
Bundesliga: Matchday 23
Bundesliga: The standings