US stock index futures fell during overnight trading on Monday, after the Dow and S&P closed at records amid optimism about the economic reopening.
Dow-related futures fell 53 points. The S&P 500 futures fell 0.13%, while the Nasdaq 100 futures were slightly negative.
During normal trading hours, the Dow jumped 174 points, reaching its highest record on the 21st day of the day and its 14th highest record in 2021. It was also the highest. -the seventh consecutive positive session of the average of 30 actions – the longest series of daily victories in August.
Meanwhile, the S&P 500 gained 0.64% for its fifth consecutive positive session. The benchmark reached its 16th intraday high of the year and its 13th closing record.
The Nasdaq Composite performed relatively well on Monday, gaining 1.05% and recovering some of its recent losses.
The actions of Big Tech companies and the economic reopening of spare parts, as well as airlines, have led to larger environments as the launch of the coronavirus vaccine continues.
“The distribution of COVID-19 vaccines brings us closer to a fully reopened economy and is probably the most important factor in assessing the growth prospects for 2021,” noted strategies from LPL Financial. “We expect interest rates to disappear as a threat to markets,” the company added.
The 10-year Treasury yield traded at around 1.6% on Monday, after reaching its highest level in more than a year on Friday. The recent rise in bond yields has led to a rotation in growth denominations as companies’ future cash flows begin to look less attractive than other assets.
“After a performance cycle of about 14 years, the dominance of growth over value reached a bit in the fall of 2020,” said Keith Lerner, chief market strategist at Truist. “We continue to see an increase in value relative to growth over the next 12 months, given the dramatic long-term performance of the performance, as well as the US economy being at the peak of the best growth in the last 35 years.”
On Tuesday, Lennar and CrowdStrike are among the companies that will report earnings. February retail sales data will also be released, in addition to data on builders’ sentiments from the National Association of Home Builders.
Meanwhile, the Federal Reserve will begin its two-day meeting on Tuesday, followed by a statement and briefing from President Jerome Powell on Wednesday.