Stock futures are flat in overnight trading after tech-led rally

Stock futures are flat in overnight trading after tech-led rally

Stock futures have been flat in overnight trading Monday after buyers purchased the dip in know-how shares following latest weak point.

Futures on the Dow Jones Industrial Common dipped 14 factors. S&P 500 futures have been little modified, and Nasdaq 100 futures edged 0.1% decrease.

The overnight motion adopted a tech-led rally that noticed the Nasdaq Composite rise 1.9%. Shares of Twitter surged 27% for its greatest day ever after Elon Musk disclosed a 9.2% passive stake in the social media firm.

The blue-chip Dow rose about 100 factors to start the trading week, whereas the S&P 500 superior 0.8%, each posting their second straight day of positive factors.

“In the near-term, we believe indiscriminate selling has created attractive entry points, particularly into some high-growth-potential stocks,” Tony DeSpirito, CIO of U.S. elementary equities at BlackRock, stated in a observe.

The brand new quarter has kicked off after the key averages completed their worst quarter in two years. Buyers are awaiting the Federal Reserve assembly minutes Wednesday for additional clues on the central financial institution’s rate-hike path. In the meantime, the first-quarter company earnings season is ready to start subsequent week.

“Markets have been resilient given the war in Ukraine, continued price pressures, and uncertain global economic outlook, with investors’ ‘buy the dip’ mentality driving equity returns,” stated Mark Hackett, Nationwide’s chief of funding analysis.

Buyers are additionally maintaining a tally of oil costs amid the provision disruptions stemming from Russia’s invasion of Ukraine. WTI crude jumped greater than 4% and traded again above $100 a barrel Monday.

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