Stock Futures Indicate Technology Gains That Extend

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Stock Futures Indicate Technology Gains That Extend


U.S. equity futures rose on Thursday, signaling gains for tech stocks early in the second quarter ahead of a wave of economic data.
Futures contracts linked to the S&P 500 edged up 0.3% after the overall gauge of equities closed a fourth consecutive quarterly advance on Wednesday. Contracts for the tech-focused Nasdaq-100 rose 0.9%.
Many investors are hoping stocks will continue to rise in the second quarter, helped by the prospect of a surge in economic growth as vaccinations become widespread and new spending programs from the Biden administration. Nevertheless, they highlight the risks associated with rising bond yields, new lockdowns in Europe and signs of excess in market corners.
Some wonder if the shift from tech stocks to economically sensitive sectors like banking and energy has gone too far. After propelling the market as a whole higher in 2020, the rally in tech stocks slowed in the first quarter as investors invested in companies that could benefit from the economic rebound.
“We are entering a period where there is a little more risk, and for that I want to have a more balanced approach,” said Lars Skovgaard Andersen, investment strategist at Danske Bank Wealth Management. Mr Andersen believes information technology stocks such as Microsoft and Salesforce.com would provide a cushion if cyclical stocks lost momentum.

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