In the long run, US futures rose slightly on Tuesday, after shares fell in the regular session.
Dow futures rose 85 points. The S&P 500 futures gained 0.27% and the Nasdaq 100 futures rose 0.35%.
On Tuesday, major averages reduced some strong gains on Monday. The Dow Jones industrial average lost 143 points, pressured by a 2.6% drop in Intel. The S&P 500 recorded a loss of approximately 0.8%.
The Nasdaq Composite performed relatively poorly, dropping by about 1.7% as Facebook, Microsoft, Amazon, Apple, Netflix and Google-parent Alphabet closed below. The Russell 2000 small capital reference level decreased by 1.93%.
“In a day with little important news and before some important news that will come soon – the Fed meeting and the number of jobs – investors took the opportunity to make some profits from yesterday’s big recovery,” said Jim Paulsen , chief investment strategist at CNBC’s Leuthold Group. “Tuesday’s weakest performance, technology, was yesterday’s biggest winner.”
The 10-year treasury yield, closely watched by investors recently, fell to 1.40% on Tuesday. Yields rose to a high of 1.6% last week, raising investor concerns about higher borrowing costs and inflation.
“Overall, shopping in the bathroom is alive and well,” Paulsen added. “Despite two turbulent days, the S&P 500 has risen 1.55% so far this week, dominated by the reopening of plays, including materials, industrial, financial and energy, with the technology performing at the market.”
President Joe Biden said late Tuesday that the United States will have a large enough amount of coronavirus vaccines to vaccinate every adult in the country by the end of May. That would be two months ahead of schedule. The launch of the vaccine is seen as a key element in bringing Americans back to work and for the recovery of the economy.
Private payroll data for February is due at 8:15 a.m. Wednesday. This will allow investors to read the labor market. Economists surveyed by the Dow Jones expect 225,000 private jobs to be added in February, up from the 174,000 added in January.
Brown-Forman, Dollar Tree and Wendy report quarterly earnings before the bell on Wednesday.
Sign up to CNBC PRO for exclusive statistics and analysis, and live scheduling on weekdays around the world.