US futures traded lower hours ahead of Tuesday’s opening clock

US stock futures traded lower ahead of Tuesday’s Wall Street session after US investors pushed Monday’s Federal Reserve assurance for support in the economic recovery.

Ticker	Safety	Last	Alter	Alter%
Ek: DJI	DOW JONES AVERAGE	32731.2	+ 103.23	+ 0.32%
SP500	S&P 500	3940.59	+27.49	+ 0.70%
I: COMP	NASDAQ COMPOSITION INDEX	13377.542201	+162.31	+ 1.23%

Wall Street’s standard S&P 500 index rose 0.7% overnight as major technology companies generally outperformed equities. Amazon, Apple and Microsoft have made progress.

Fed Chairman Jerome Powell said that while the economy was improving, “a recovery is far from complete.” “In testimony to Congress, he said the Fed” will continue to provide the economy with the necessary support for as long as it needs to. ‘

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Powell “kept markets happy” by saying “there was still a long way to go” before stricter monetary policy was justified, Robert Carnell of ING said in a report.

Investors are wavering between optimism that coronavirus vaccines that could bring business and travel back to normal, and fears of higher inflation after struggling economies were flooded with credit and government spending.

They were earlier reassured by Powell’s remark that the Fed’s interest rate will be kept at near zero until 2023, even as inflation is expected to increase.

On Wall Street, the S&P 500 rose to 3,940.59. The Dow Jones industrial average rose 0.3% to 32,731.20. The Nasdaq climbed 1.2% to 13,377.54.

Amazon rose 1.2% and Apple 2.8%, while Microsoft rose 2.4%.

Shares were boosted by a rise in the bond price, which reduced their yield, or the difference between their market price and the payout on the maturity date. An increase in returns attracts investors from technical stocks with a higher price.

The yield on the 10-year treasury note fell to 1.69% after trading at 1.74% last week. The possibility of higher interest rates as yields rise, investors believe may have slowed economic growth.

Also on Monday, Kansas City Southern jumped 11.1% for the biggest gain in the S&P 500 after a Canadian railroad announced it would buy the company for $ 25 billion.

Stocks ended up in the red last week as an increase in bond yields sold in many parts of the market.

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Bank shares fell. Lower yields may mean that banks can only charge lower interest rates. The KBW Bank index of the 24 largest banks fell by more than 2%.

The US-traded shares of British pharmaceutical company AstraZeneca rose 4% after British and US health officials said the COVID-19 vaccine was safe and that blood clotting reports outweighed the benefits of the vaccine.

Meanwhile, Asian stock markets declined on Tuesday after Wall Street rose with gains for technology stocks and assurances by the U.S. Federal Reserve for support for an economic recovery.

Shanghai, Tokyo, Hong Kong and Sydney withdrew.

The Shanghai Composite Index lost 1.2% to 3,402.27, while the Nikkei 225 opened higher in Tokyo but fell 0.4% to 29,059.91 by noon.

Hong Kong’s Hang Seng fell 1.4% to 28,494.09. The Chinese search engine operator Baidu Inc. rose 0.2% on its first trading day after the company joined the Hong Kong Stock Exchange and raised $ 3.1 billion in a share sale.

The Kospi in Seoul rose 0.9% to 3,008.48 while Sydney’s S&P ASX 200 lost 0.1% to 6,745.40.

India’s Sensex fell 0.1% to 50,034.07. New Zealand and Singapore progressed while Jakarta declined.

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In the energy markets, standard US crude oil lost 60 cents to $ 60.96 a barrel of electronic trading on the New York Mercantile Exchange. The contract rose 13 cents to $ 61.55 on Monday. Brent crude, the price base for international oils, retreated 64 cents to $ 63.98 a barrel in London. That rose the penetrating session by 9 cents to $ 64.62 a barrel.

The dollar declined to 108.76 yen from Monday’s 108.80 yen. The euro retreated to $ 1.1922 from $ 1.1942.