Nasdaq, Selloff, S&P

Nasdaq, Selloff

Nasdaq futures bounce as tech selloff eases

Nasdaq futures bounce as tech selloff eases

18/9/2020 2:26:00 PM

Nasdaq futures bounce as tech selloff eases

Futures tracking the Nasdaq 100 index rose on Friday as a two-day selloff in technology-related stocks halted, while worries about rising ...

BusinessFutures tracking the Nasdaq 100 index rose on Friday as a two-day selloff in technology-related stocks halted, while worries about rising coronavirus cases and a patchy economic recovery weighed on S&P 500 and Dow futures.FILE PHOTO: A worker cleans the floor of the New York Stock Exchange (NYSE) , U.S., March 20, 2020. REUTERS/Lucas Jackson

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18 Sep 2020 06:55PMShare this contentBookmarkREUTERS: Futures tracking the Nasdaq 100 index rose on Friday as a two-day selloff in technology-related stocks halted, while worries about rising coronavirus cases and a patchy economic recovery weighed on S&P 500 and Dow futures.

Wall Street's three main indexes bounced earlier this week as investors bet on a loose monetary policy by the Federal Reserve, but gains petered out in the absence of firm details on the central bank's stimulus plan.AdvertisementAdvertisementThe S&P 500 and the Nasdaq have also come under pressure from investors rotating out of high-flying tech-related stocks and into industrial and transportation firms.

Of the 11 major S&P indexes, industrials , materials and energy have gained more than 2per cent so far this week, while communication services and consumer discretionary have posted the biggest declines.At 6:33 a.m. ET, Dow e-minis were down 33 points, or 0.12per cent. S&P 500 e-minis were up 2 points, or 0.06per cent and Nasdaq 100 e-minis were up 48.5 points, or 0.44per cent.

Tesla Inc rose 2.1per cent in premarket trading after two analysts raised their price targets on the electric carmaker's shares ahead of its highly anticipated"Battery Day" event next week.AdvertisementAdvertisementVolatility is likely to be higher on Friday related to a quarterly expiration of U.S. stock options, stock index futures and index option contracts, known as"quadruple witching".

(Reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Maju Samuel) Read more: CNA »

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