Stock futures were little changed Tuesday evening at the start of the overnight session, taking a pause after the S&P 500 closed out at its highest level since March 5.
Earlier, stocks pared some gains in the final 30 minutes of trading during the regular session Tuesday, after Bloomberg reported U.S. officials were considering sanctioning Chinese officials and entities over a new national security law that would impose on the autonomy of Hong Kong, a region which has special trade status with the U.S.
Still, the threat of heightened tensions with China did little to knock stocks off their upward trajectory during the session. The Dow closed out the session up more than 500 points, or nearly 2.2%.
Tuesday’s rally was led by the Financials sector in the S&P 500, and big banks including Goldman Sachs (GS) and JPMorgan Chase (JPM) outperformed in the Dow as longer duration Treasury yields