How to Take Advantage of Overnight Trading

President Biden said there will be enough vaccines for every American by the end of May

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Schaeffer's Opening View
3/03/2021
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Stock Futures Mixed as Bond Yield Tensions Return


By: Lillian Currens

Stock futures are struggling for direction after yesterday's lossesFutures on the Dow Jones Industrial Average (DJI) are pointed cautiously higher despite giving back bigger gains, while futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are eyeing modest losses. Wall Street initially got an overnight boost after President Joe Biden announced yesterday evening that there will be enough Covid-19 vaccines for every adult by the end of May, much more encouraging than the originally-scheduled July forecast. 

However, optimism over a swift vaccine rollout has been overshadowed by more bond yield anxieties. While the 10-year Treasury yield has retreated from the 1.6% high it saw last week, it looks to be back on the rise, last seen up at 1.4%. Elsewhere, investors are poring over private payrolls data, with 117,000 new jobs added last month, coming in well below the 225,000 jobs expected by economists. 

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

  • Schaeffer's Senior Quantitative Analyst Rocky White assesses overnight stock performance as an indicator.
  • The semiconductor stock that could surge to new records.
  • Plus, LYFT pops on promising ride data; and two name brands sink after quarterly reports. 
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