Stock futures are stable after S&P 500 and best Nasdaq day since March – .

Stock futures are stable after S&P 500 and best Nasdaq day since March – .

U.S. stock futures were flat in overnight trading on Tuesday after stocks continued their ascent following the sell off of omicron.
Dow futures rose 20 points. S&P 500 futures gained 0.1% and Nasdaq 100 futures gained 0.12%.

On Tuesday, the S&P 500 and the Nasdaq Composite posted their best days since March. The Dow Jones Industrial Average rose 492 points thanks to gains from Apple, Salesforce and American Express. The S&P 500 also posted a gain, climbing 2.1%. The technology-driven Nasdaq Composite was the top performer after gaining more than 3%.

The 11 sectors were all positive on Tuesday, led by technology, which rose 3.5%.

Shares recovered this week from last week’s market rout over fears of the omicron Covid variant and a possible faster-than-expected decline in the Federal Reserve’s bond buying program.

Tech stocks have led the way, with the Nasdaq up 4% since Monday. The Dow Jones and S&P 500 recorded their biggest two-day gain since November 2020.

JPMorgan’s chief global markets strategist Marko Kolanovic said on Tuesday that investors can trust this rally in stocks.

“When the omicron news was recorded on Thanksgiving night, there was clearly an overreaction,” Kolanovic, who is also an Institutional Investor Hall of Fame strategist, said in the “Halftime Report” of CNBC Tuesday. “The markets sold out very quickly on unreliable information,” he added. “And now it’s basically a matter of getting them back. “

This week’s gains have taken major averages a striking distance from their all-time highs. The Dow Jones is 2.3% off its all-time high and the S&P 500 and Nasdaq are 1.2% and 3.2%, respectively, from their all-time highs.

On Wednesday, the Bureau of Labor Statistics will release the October Job Openings and Turnover Survey. Economists polled by Dow Jones expect there to be 10.6 million open positions in October, up from 10.4 million in September.

As the largest of the S&P 500 companies released their third quarter results, Campbell Soup, GameStop and Rent the Runway reported on Wednesday.


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