Dow Futures Climb, Tech Rebounds, Bitcoin Suffers—and What Else Is Happening in the Stock Market Today
Stocks begun rebounding Tuesday, after steep declines put the market at new lows. Bond yields also ticked lower.
Futures for the Dow Jones Industrial Average climbed 206 points, or 0.6%. S&P 500 futures signaled a start 0.8% into the green, with the technology-heavy Nasdaq Composite poised to rise 1.5%.
This comes after all three major indexes have sold off sharply for the past three days, landing them at new closing lows for the year.
The S&P 500 has fallen 16% for the year through Monday’s close, as the Federal Reserve lifts interest rates and reduces its bondholdings to combat high inflation.
Those are moves that will likely slow down economic growth and have already caused a selloff in bonds, lifting their yields.
Lockdowns in China are also restricting companies around the globe from accessing supplies, yet another factor bringing costs higher, a threat to profit margins.
Tuesday, stocks are getting a slight boost from lower bond yields. The 10-year Treasury yield dropped to 3% and is down from a pandemic-era closing high of 3.13% Friday,
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