Stock Market News Live Updates: Futures inch Higher after Big Rally, COVID Remains Focus
Stock Market futures climbed in after-hours trading Tuesday evening, after a day in which investors temporarily put aside their concerns that a recurrence of COVID-19 cases would disrupt the country’s brisk economic recovery.
The week began with key benchmarks seeing their biggest losses since 2021, drawing attention away from quarterly results, which have almost consistently shown a solid recovery. The increasing case count caused by the Delta variant – a more communicable version of COVID-19 — drove the Dow (DJI), Nasdaq (IXIC), and S&P 500 (GSPC) to their lowest levels in months.
However, investors rethought some of their pessimism in Tuesday’s session, with some analysts pointing out that hospitalizations and fatalities haven’t increased as drastically — and are still much below where they were during the worst days of the COVID-19 epidemic.
The major indexes rose, with the Dow recovering almost 2% on the day as buyers bought the dip. Stock Market indicate that markets will add to their gains when trading resumes on Wall Street on Wednesday.
“Whereas a 700-point loss would take a couple of days to recover from, we’re seeing it within 24 hours,” Marketgauge.com partner Michele Schneider told Yahoo Finance Live. “That’s simply the nature of retail investors being so eager and taught, well-trained, to purchase any dip.”
At the same time, bond rates have been falling, indicating that investors are less worried about inflation and more anxious about growth and the danger of COVID-19. Analysts believe the possibility of additional limitations cannot be completely ruled out.
“Bond investors are becoming more worried about the possibility of additional lockdowns as COVID versions proliferate. At least one county in the United States has reinstated the mask requirement “in Los Angeles, according to Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.
“Lockdowns are being reinstated in several nations, including South Africa, Australia, and Indonesia. As a consequence, if lockdowns threaten growth, investors are seeking the protection of Treasuries “she said
When the normal trading day starts on Wednesday, all eyes will be on Netflix (NFLX) and Chipotle (CMG), both of which announced second-quarter results. The streaming behemoth exceeded experts’ projections for new customers in the quarter, but fell short of the goal for Q3. Netflix also revealed more about its ambitions to enter the gaming industry.
Separately, Chipotle surprised Wall Street by exceeding expectations throughout the quarter, owing to a large return of consumers after COVID-19 limitations and continued growth in digital sales.
The restaurant business excelled on all metrics, despite some criticism for increasing prices to mitigate the effect of the labor shortage. Chipotle shares gained 1.5 percent in after-hours trade after the news, and are up 14 percent year to far.
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6:20 p.m. ET Monday evening: Stock Market xxx
As of 6:20 p.m. ET, the following were the major market moves:
Dow futures (YM=F): 34,226 (+29).
Nasdaq futures (NQ=F): 14,727, +5
S&P 500 futures (ES=F): 4,319, +3.50