Futures for the Dow, S&P 500, and the Nasdaq all fell this morning as the US Treasury marks further gains in bond yields that have some investors spooked.
Futures for the Dow Jones were down 172 point to 31,261 (-0.6%) with S&P 500 Futures down 29.40 points to 3,873.50 (-0.8%). Nasdaq-100 Futures dropped a staggering 184.50 points down to 13,391.50 (-1.4%).
Industrial averages have remained relatively neutral this morning with the Dow staying steady at 31,494.32 (+0.0%) and the Nasdaq showing a slight gain of 9.11 points after is fall last week, up to 13,874.46. The S&P 500 Index is down slightly this morning by 7.26 to 3,906.7 (-0.19%).
In foreign markets, the Stoxx Europe 600 is down 2.50 points to 412.38 (-0.6%) while the London FTSE follows suit, falling 34.62 points down to 6,589.18 (-0.53%). Hong Kong’s Hang Seng Index (HSI) fell by nearly 350 points down to 30,319.83 (-1.06%) while the Japanese Nikkei bounced back, up 138.11 points to 30,156.03 (+0.46%).
Yields are expected to continue their climb, which has a few economists worried about interest rates despite the Feds claims to keep them in check beyond the 2% mark. Leading indicators for the economy’s performance in January are expected at 10:00 a.m. today.
Traders and market experts will continue to watch the economy amidst the vaccine roll out and the planned $1.9 trillion stimulus from the Biden administration.