futures

Stock futures steady after rally

By Tommy Flemm 1 year ago

Stock futures kicked off the overnight session slightly lower following an afternoon rally on Wall Street.

Shares of big banks including Goldman Sachs and Wells Fargo traded lower after hours, after the Federal Reserve said in its stress test results Thursday after market close that it would restrict dividends and share buybacks on financial companies for the third quarter. The move is intended to “ensure large banks remain resilient despite the economic uncertainty from the coronavirus event,” according to the Fed.

Earlier during the regular session Thursday, the financials sector had led the S&P 500’s advances, after regulators eased constraints over certain bank investments, which had first been implemented after the global financial crisis.

Meanwhile, further increases in coronavirus cases in some parts of the country stirred up investor consternation, with signs increasingly pointing to a chaotic reopening process. The governor of Texas – one of the first states to

… Read More

Stock futures open slightly higher after selloff

By Tommy Flemm 1 year ago

Stock futures opened modestly higher Wednesday evening. The after-hours moves came on the heels of a steep selloff in markets during the regular session, with the Dow dropping 2.72%, or 710 points, for its worst day since its near-7% slide two weeks ago.

The risk-off mood came after some states in the South and West reported another day of increases in new coronavirus cases. California reported more than 7,100 new cases – a one-day record by far for the state – while Florida and Texas also reported record jumps in new cases at more than 5,500 each. Apple (AAPL) re-closed seven more retail locations in Houston, Texas, bringing its total re-closures nationwide to 18 as a result of the rise in infections.

New York, once the nation’s epicenter of new coronavirus cases, along with New Jersey and Connecticut called for a 14-day quarantine for visitors traveling from many of the

… Read More

Stock futures open little changed, pausing after rally

By Tommy Flemm 1 year ago

Stock futures traded near unchanged Tuesday evening after a rally during the regular session sent a number of big tech names and the Nasdaq Composite to record closing highs.

Market participants continued to eye increases in coronavirus cases in some regions in the country, with each of California, Texas and Arizona posting their largest daily case additions so far, as of Tuesday’s counts. Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said during an appearance before the House Energy and Commerce Committee Tuesday that the “next couple of weeks are going to be critical” in containing the virus in states in the South and West where surges have appeared.

Still, state and local officials have so far largely tabled the idea of shutting down their state economies again, with Texas Gov. Greg Abott saying that a new lockdown would be the last option.

Despite the

… Read More

Stock futures edge higher after Nasdaq closes at a record

By Tommy Flemm 1 year ago

Stock futures ticked up slightly as late trading kicked off, with stocks steadying after another choppy session earlier on Monday.

Big tech stocks were mixed in overnight trading after outperforming during the regular session, with both the Nasdaq Composite and Nasdaq 100 ending at record high levels. Each of Netflix, Apple, Microsoft, Amazon and Facebook hit record closing, along with Zoom Video Communications, Nvidia and PayPal.

Apple’s record closing high coincided with the company’s annual Worldwide Developers Conference (WWDC), during which the iPhone-maker announced it would be pivoting away from its 15-year partnership with Intel to make its own processors in its Mac devices. The company also announced during its video-streamed conference a suite of new upgrades to its operating systems for iPhone, Mac, iPad and Apple Watch.

Travel and leisure stocks extended declines in late trading as coronavirus cases rose further in some geographies, stoking fears that reopening processes

… Read More

Stock futures tumble as fears of virus resurgence flare

By Tommy Flemm 1 year ago

Stock futures opened lower Sunday evening as daily coronavirus case counts rose by records in some states.

The early moves for futures extended declines from last week’s choppy equity trading sessions. The S&P 500 and Dow dipped at the end of last week but held onto weekly advances after Apple said it was closing retail stores in states where Covid-19 cases were spiking anew.

A number of states continued to struggle this weekend with rising coronavirus cases as businesses reopen, with states across the South, West and Midwest hit especially hard. California on Sunday reported a record 4,515 new cases in a 24-hour period, marking the highest so far in one day for the state during the pandemic. Cases in Florida rose by a single-day record of 4,049 based on Saturday’s tally, and cases on Sunday increased by another 3,494.

States including Arizona, Nevada, Missouri, South Carolina, Montana and Utah

… Read More