Mobile Monitoring Solutions

Dow Jones Futures Little Changed After Hours: Stock Market Rally Backs Off Highs On …

MMS Founder

Posted on mongodb google news. Visit mongodb google news

Dow Jones futures, S&P 500 futures, and Nasdaq futures were largely unchanged after hours on Tuesday. The stock market rally experienced a slight setback as Treasury yields rebounded. While major indexes such as the Dow Jones and the Russell 2000 fell below their 50-day lines, megacaps like Microsoft, Meta Platforms, and Tesla helped limit the overall losses.

Homebuilders and housing stocks, however, saw a significant sell-off due to the higher yields. Energy stocks, on the other hand, performed well as crude oil continued to climb.

Several stocks such as Microsoft, Meta, Tesla, General Electric, and MongoDB are currently trading close to their buy points.

After the market close, software makers Zscaler, Asana, and GitLab reported their earnings. Zscaler stock fell slightly despite better-than-expected earnings and a strong guidance. Asana stock declined modestly after beating estimates. GitLab stock rose solidly after reporting earnings and revenue above expectations.

In terms of ETFs, the Innovator IBD 50 ETF fell 0.5%, the iShares Expanded Tech-Software Sector ETF advanced 0.45%, and the VanEck Vectors Semiconductor ETF rose 0.2%.

The stock market rally felt the impact of rising Treasury yields, with the Dow Jones falling 0.6%, the S&P 500 retreating 0.4%, and the small-cap Russell 2000 tumbling 2.1%. Crude oil prices climbed 1.3% as Saudi Arabia and Russia announced production cuts. The 10-year Treasury yield also saw a significant increase.

Microsoft, Meta, and Tesla stocks are currently near their buy points, while General Electric and MongoDB stocks held their positions above their 50-day lines.

Although megacaps limited the losses on the major indexes, market breadth was weak. Losers outnumbered winners on both the Nasdaq and the NYSE, and the Russell 2000 fell below its 50-day line.

Source: [Article Source Name]

Article originally posted on mongodb google news. Visit mongodb google news

Subscribe for MMS Newsletter

By signing up, you will receive updates about our latest information.

  • This field is for validation purposes and should be left unchanged.