Stock futures bounce back from Tuesday’s standstill


US equities are trading futures ahead of Wednesday’s Wall Street session.

Leading futures index suggests 1% gain

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On Tuesday, a late slide at big technology companies swept the indexing broadly, breaking the seven-day win streak for the S&P 500.

The lack of progress in negotiating more funding for the US economy, coupled with the Coronavirus epidemic and tensions between the US and China, have prompted investors to sell and lock in from recent gains, analysts said .

Kamala Harris, a California senator with a law enforcement background that has caused some tension with the progressive left, was announced on Tuesday as Joe Biden’s running mate.

STOCKS SLIDE CORONVIRUS RALLS STALL AS

Before trading commences, the Bureau of Labor Statistics is expected to say that consumer prices have increased by 0.3% in July, with monthly increases seen in June.

In Europe, London’s FTSE is up 0.8%, Germany’s DAX 0.1% and France’s CAC up 0.3%.

In Asia, Tokyo’s Nikkei index declined 0.4%, Hong Kong’s Hang Seng lost 1.4% and China’s Shanghai Composite declined 0.6%.

Anchor Security The last Change Change %
Me: DJI Dow jones average 27686.91 -104.53 -0.38%
SP500 S&P 500 3333.69 -26.78 -0.80%
Me: comp NASDAQ Composite INDEX 10782.822689 -185.53 -1.69%

The Wall Street reversal left the S&P 500 with a 0.8% loss at 3,333.69. Declines for big-name technology stocks such as Apple and Microsoft, higher losses in healthcare and communications stocks, gains in financial, industrial and energy companies.

Tech stocks have outpaced the rest of the market this year as investors believe they can succeed in a home-based economy.

The Dow Jones Industrial Average dropped 0.4% and the Nasdaq Composite dropped 1.7%.

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Benchmark US crude oil for September delivery rose 61 cents to $ 42.21 a barrel in electronic trading on the New York Mercantile Exchange. It fell 0.8% to $ 41.61 a barrel on Tuesday.

The Associated Press contributed to this article.