Stock futures little changed after Tuesday’s intraday comeback

SourceCNBC
SectorFinancial Markets
CountryMiddle east

U.S. stock futures were largely flat on Tuesday evening as investors looked to see whether a late-day swing in the market would continue into Wednesday. Futures contracts for the Dow Jones Industrial Average and the S&P 500 hovered near the flat line, while those tied to the Nasdaq 100 slipped 0.1%. The move in futures follows a wild comeback during Tuesday's market hours that saw the Dow and S&P 500 erase sharp losses to finish modestly higher. The positive finish snapped a five-day skid for the S&P 500. The Nasdaq Composite, which was down nearly 4% at point, finished with a loss of just 0.5%. The rebound began after Federal Reserve Chair Jerome Powell released his prepared remarks for a hearing with the Senate Banking Committee, with the central bank chief saying that inflation was "soft" and that the U.S.

economy was "a long way from our employment and inflation goals." Bond yields had perked up in recent weeks, feeding fears that the...read more...