(Sharecast News) – Stock futures were trading higher again as bond yields kept slipping from their recent highs.
“Dovish Fed comments that the recent run-up in yields might reduce the need for further rate hikes lowered expectations of another rate rise and led to a stock market rally,” said Axel Rudolph, senior market analyst at IG.
At 1727 BST, the Dow Jones Industrials was adding 0.79% to 33,870.30, alongside a 1.11% advance to 4,384.08 for the S&P 500.
But it was the Nasdaq Composite that was doing best, trading up by 1.22% to 13,648.45.
Front-dated West Texas Intermediate crude oil futures were registering a dip of 0.51% to $85.91 a barrel on NYMEX.
In parallel, the yield on the benchmark 10-year U.S Treasury was retreating by 17 basis points to 4.636%.
In speeches overnight, Fed vice chair Philip Jefferson and Dallas Fed president Lorie Logan suggested that yields might be doing enough to keep financial conditions tight for now, raising hopes that the central bank may hold off from raising rates for now.
Worth noting, bond markets had remained closed on Monday for Columbus Day and Indigenous Peoples Day.
No major economic data was scheduled for release during Tuesday’s session, though speeches from Fed members Christopher Waller, Neel Kashkari and Mary Daly would be closely watched to see if they are aligned with recent comments.
On the geopolitical front, Israeli forces were continuing to mass outside the Gaza strip.
Dow Jones – Risers
Boeing Co. (BA) $193.85 2.84%
Coca-Cola Co. (KO) $54.16 2.42%
Dow Chemical Co. (DOW) $51.79 1.93%
American Express Co. (AXP) $151.59 1.86%
3M Co. (MMM) $90.70 1.85%
Home Depot Inc. (HD) $300.26 1.66%
Visa Inc. (V) $237.96 1.50%
Nike Inc. (NKE) $98.29 1.46%
Intel Corp. (INTC) $36.56 1.37%
Caterpillar Inc. (CAT) $274.86 1.31%
Dow Jones – Fallers
Travelers Company Inc. (TRV) $162.34 -0.56%
Unitedhealth Group Inc. (UNH) $525.41 -0.21%
Merck & Co. Inc. (MRK) $104.39 -0.11%
Dowdupont Inc. (DWDP) $0.00 0.00%
Amgen Inc. (AMGN) $271.65 0.04%
Cisco Systems Inc. (CSCO) $53.99 0.14%
Microsoft Corp. (MSFT) $330.62 0.24%
Johnson & Johnson (JNJ) $158.97 0.27%
Chevron Corp. (CVX) $167.18 0.28%
Apple Inc. (AAPL) $179.66 0.38%
S&P 500 – Risers
CenturyLink Inc. (LUMN) $1.40 6.87%
Truist Financial Corp. (TFC) $29.19 6.43%
Gap Inc. (GPS) $11.05 6.10%
Albemarle Corp. (ALB) $163.20 4.78%
Stanley Black & Decker Inc. (SWK) $82.66 4.74%
Travel + Leisure Co (TNL) $35.37 4.52%
Target Corp. (TGT) $110.41 4.40%
Lamb Weston Holdings, Inc. (LW) $96.65 4.26%
Dollar Tree Inc (DLTR) $109.05 4.14%
NextEra Energy Inc. (NEE) $51.34 4.10%
S&P 500 – Fallers
Ralph Lauren Corp (RL) $111.81 -2.11%
Tapestry Inc. (TPR) $27.73 -1.63%
Campbell Soup Co. (CPB) $39.66 -1.44%
Juniper Networks Inc. (JNPR) $26.43 -1.44%
Northrop Grumman Corp. (NOC) $465.25 -1.35%
L3Harris Technologies Inc. (LHX) $177.85 -1.31%
Qorvo, Inc. (QRVO) $93.88 -1.07%
American Tower Corp (Reit) (AMT) $160.39 -1.01%
W.W. Grainger Inc. (GWW) $720.26 -0.78%
General Mills Inc. (GIS) $63.54 -0.66%
Nasdaq 100 – Risers
Qurate Retail Inc. (QRTEA) $0.52 9.03%
Dollar Tree Inc (DLTR) $109.05 4.14%
Marriott International – Class A (MAR) $201.10 3.43%
JD.com, Inc. (JD) $30.23 3.42%
Electronic Arts Inc. (EA) $128.39 3.05%
Mercadolibre Inc. (MELI) $1,274.07 2.88%
Expedia Group Inc. (EXPE) $102.47 2.81%
Gen Digital Inc. (GEN) $17.81 2.80%
Synopsys Inc. (SNPS) $492.79 2.68%
Tesla Inc (TSLA) $266.21 2.52%
Nasdaq 100 – Fallers
Mondelez International Inc. (MDLZ) $63.64 -0.21%
Kraft Heinz Co. (KHC) $32.45 -0.12%
Fastenal Co. (FAST) $56.40 -0.12%
Activision Blizzard Inc. (ATVI) $94.25 -0.10%
Citrix Systems Inc. (CTXS) $103.90 0.00%
Xilinx Inc. (XLNX) $0.00 0.00%
Shire Plc Ads (SHPG) $0.00 0.00%
Celgene Corp. (CELG) $0.00 0.00%
Alexion Pharmaceuticals Inc. (ALXN) $0.00 0.00%
Mylan Inc. (MYL) $0.00 0.00%
