The 10-year Treasury yield cooled off this morning to give tech a boost
| 9/29/2021 | | Have you seen our volatility scorecard? Sign up by clicking here! | Stock Futures, Tech Poised For Rebound | By: Jacob Scott | Stock futures are pointed higher this morning, as the 10-year Treasury yield cools off in the wake of yesterday's surge. In response, the tech sector is mounting a rally, with FAANG stocks all up 1% or more in electronic trading. Meanwhile, U.S. Treasury Secretary Janet Yellen said Congress has until Oct. 18 to raise or suspend the debt ceiling, lest the economy face dire consequences. U.S. Federal Reserve Chairman Jerome Powell also noted that inflation could last longer than previously thought. At last check, futures on the Dow Jones Industrial Average (DJI) were up around 99 points, while Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures are both firmly in the black as well. Continue reading for more on today's market, including: - Schaeffer's Senior Quantitative Analyst Rocky White assesses the SPX's 4th quarter history.
- Spotify's new campaign did little to move the stock.
- Plus, Micron's earnings report; a big upgrade to LLY; and Netflix's new venture.
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