Stock futures advanced on Thursday, indicating that the shares of technology giant companies would rise above the opening bell, while investors expect a new reading on the labor market.
S&P 500 futures rose 0.7%. Nasdaq-100-related contracts rose 1.9%, suggesting technology stocks will return after a slowdown in the sector on Wednesday. Dow Jones Industrial Average futures rose 0.3%, a day after the blue-chips index closed at a record high.
Investor demand for equities revived as bond markets calmed down. The yield on 10-year treasury bills, which is reversing from the price, fell to 1.502% from 1.520% on Wednesday, putting it on track for the third consecutive day of declines. Yields rose to 1,594% earlier this week.
Shares have been hit by sudden bond yields, fueled by uncertainty over how the $ 1.9 trillion exemption bill adopted by the House on Wednesday will grow in the US economy.
Concerns that the size of the stimulus would raise inflation beyond the comfort zone of the Federal Reserve and trigger an increase in interest rates have recently led to higher yields. This low appetite for shares in technology companies, which benefited from an extended period of low rates. At the same time, optimism about the economic outlook has strengthened the demand for shares of companies that would benefit from a easing of bottlenecks.