Stock Groups

Futures rebound after three-day slump on Wall Street -Breaking

[ad_1]

© Reuters. FILE PHOTO A trader is seen working on the New York Stock Exchange’s floor in New York City (USA), May 9, 2022. REUTERS/Brendan McDermid

(Reuters) – U.S. Stock Index Futures rose on Tuesday as investors bought into beaten down banks and megacap stocks following a three-day selloff triggered by fears about tighter monetary policies and slower economic growth.

Apple Inc (NASDAQ:), Microsoft Corp Premarket trading rose by 1.2% to 2.5% for Meta Platforms (NASDAQ;), Amazon.com, Google (NASDAQ) and Tesla (NASDAQ)

Goldman Sachs Group The NYSE: added 1.3% for the largest gains of all big banks.

The benchmark fell below 4,000 Monday for the first-time since March 2021, while the Nasdaq lost more than 4 percent.

Due to war in Ukraine and China’s COVID-19 locksdowns, which roil global supply chains, both indexes fell about 16% and 26% respectively this year. Bond yields are rising as traders adjust to lower U.S. rates.

Federal Reserve reports Monday that yields have risen rapidly, there has been war-related oil market turmoil, and other factors, which has already put stress on some areas of the financial system. In its biannual update, it warned that the system is at risk of “sudden” disruption.

A closely-watched inflation report, due Wednesday, is expected to reveal that consumer prices rose at a slower rate in April.

At 6:43 am. ET were up 281 point, or 0.877%. They were up 39.75, or 1 %, and up 176.5, or 1.45%.

Investors will also be able to hear from a variety of Fed policymakers later in the afternoon, as they try to find clues about future interest rate paths.

There are also other stocks Novavax Inc plummeted 22.5%, after vaccine maker reveals sharp fall in COVID-19 research funding. It also stated that it has shipped less then a fourth the number of vaccines scheduled for 2022.

AMC Entertainment (NYSE) gained 4.2%, after posting better than expected quarterly revenue and a narrower profit. The movie “The Batman”, which was a big-ticket film, drew huge crowds to the cinemas of the biggest theater chain in the country.

[ad_2]