Stock futures are flat after major averages turn positive for the week

futures stock averages market points
Gulf
  • Date: 07/22/2021
  • Source: CNBC
  • Sector: Economy
  • Country: Gulf

Stock futures are flat after major averages turn positive for the week

U.S. stock index futures were flat in overnight trading on Wednesday, after the major averages advanced during to turn positive for the week. Futures contracts tied to the Dow Jones Industrial Average gained 27 points. S&P 500 futures and Nasdaq 100 futures were marginally higher. During the session the gained 286 points, or 0.83%, while the climbed 0.82%. The was the relative outperformer, rising 0.92%. Energy was the top-performing S&P group, advancing 3.5% as oil prices rebounded. Wednesday's gains built on Tuesday's strong session, and the major averages have now erased the losses from Monday's sell-off. The Dow dropped more than to start the week as rising Covid cases worldwide hit sentiment. The yield on the 10-year Treasury dipped to a five month low of 1.17% at the beginning of the week, which also caused investors to offload equities. On Wednesday the yield on the 10-year rose 8 basis points to 1.29%. "The truth is investors have been very spoiled by the recent stock market performance," noted LPL Financial chief market strategist Ryan Detrick. "Incredibly, we haven't seen as much as a 5% pullback since October. Although we firmly think this bull market is alive and well, let's not fool