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US STOCKS-Nasdaq futures bounce as tech selloff eases

Published 18/09/2020, 11:50
© Reuters.
US500
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TSLA
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IXIC
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SPNY
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SPLRCD
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SPLRCI
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* Futures: Dow off 0.12%, S&P 500 up 0.06%, Nasdaq up 0.44%

By Shreyashi Sanyal
Sept 18 (Reuters) - 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.
The S&P 500 .SPX and the Nasdaq .IXIC 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 .SPLRCI ,
materials .SPLRCM and energy .SPNY have gained more than 2%
so far this week, while communication services .SPLRCL and
consumer discretionary .SPLRCD have posted the biggest
declines.
At 6:33 a.m. ET, Dow e-minis 1YMcv1 were down 33 points,
or 0.12%. S&P 500 e-minis EScv1 were up 2 points, or 0.06% and
Nasdaq 100 e-minis NQcv1 were up 48.5 points, or 0.44%.
Tesla Inc TSLA.O rose 2.1% 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. Volatility 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".

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