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Stock futures flat in overnight trading after Tuesday's losses

Stock futures flat in overnight trading after Tuesday's losses

3/3/2021 2:06:00 AM

Stock futures flat in overnight trading after Tuesday's losses

On Tuesday, the major averages gave back some their sharp gains from Monday.

closed lower. The small-cap benchmark Russell 2000 dropped 1.93%."On a day with little major news and ahead of important news soon to come — Fed meeting and the jobs numbers— investors took the opportunity to take some profits from yesterday's big recovery," Jim Paulsen, chief investment strategist at the Leuthold Group, told CNBC. Tuesday's "worst performer, technology, was yesterday's biggest winner."

The10-year Treasury yield, watched closely by investors recently, fell to 1.40% on Tuesday. The yield surged to a high of 1.6% last week, raising concern among investors about higher borrowing costs and inflation."Overall, buy on the dip is alive and well," added Paulsen. "Despite a turbulent couple days, the S&P 500 has risen 1.55% so far this week dominated by reopening plays including materials, industrials, financials, and energy with technology being a market performer."

Read more: CNBC »

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