Here are five things you must know for Tuesday, May 4:
1. — Stock Futures Trade Modestly Lower
Stock futures traded lower Tuesday following Monday’s mixed session that saw shares of tech giants come under pressure.
Contracts linked to the Dow Jones Industrial Average fell 26 points, S&P 500 futures declined 8 points and futures on the tech-heavy Nasdaq dropped 51 points.
Stocks finished mixed Monday as Wall Street kicked off the first trading day of May with investors betting on a strong U.S. recovery. The Dow gained 0.7% and the S&P 500 rose 0.27%.
But the Nasdaq ended down 0.48%, led by declines in Tesla (TSLA) – Get Report and Amazon.com (AMZN) – Get Report.
Stocks have been rising as a recovery gathers pace in the U.S.
and abroad thanks to vaccination programs that have helped people get back to work and allowed for restrictions to be lifted.
A bevy of solid earnings reports also has lifted investors’ optimism.
According to FactSet, more than 60% of the companies in the S&P...read more...