Don't Sweat This Software Stock's Pullback

Upbeat jobs data caused the 10-year Treasury yield to rise to its highest level in over a year

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Schaeffer's Opening View
3/05/2021
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Stock Futures Ready to Bounce Back in a Big Way


By: Lillian Currens

Wall Street looks ready to bounce back from yesterday's dramatic selling, with Dow Jones Industrial Average (DJI) futures pointed higher by over 200 points ahead of the open. This is even as the 10-year Treasury yield jumps to 1.62% -- its highest level in a year -- on the back of an upbeat jobs report. Specifically, nonfarm payrolls rose to 379,000 last month, while the unemployment rate dropped to 6.2%, exceeding expectations.

Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) also look to be recovering from last session's dramatic pullbacks, as investors unpack Federal Reserve Chair Jerome Powell's comments yesterday concerning the central bank's passive role in reigning in spiking bond yields.  

Continue reading for more on today's market, including:

  • Buy the dip on this software stock.  
  • Breaking down one of our top options picks for spring. 
  • Plus, Big Lots stock drops despite earnings beat; Gap's sunny post-pandemic forecast; and why WDC is surging. 
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