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U.S. Stock Futures Mixed Ahead of Key Data Releases

Published 29/03/2022, 09:16 am
Updated 29/03/2022, 09:35 am
© Reuters.

© Reuters.

By Oliver Gray 

Investing.com - Stock futures were flat in early APAC deals on Tuesday after major benchmark indices closed higher as technology companies rallied while investors monitor the ongoing situation in Ukraine, with peace talks slated to continue in Turkey later in the day.

During Monday’s regular trading session, the Dow Jones Industrial Average rose 94.65 points or 0.27%. The S&P 500 climbed 0.7%, while the NASDAQ Composite gained 1.31%.

Dow Jones Futures added just 0.02%, S&P 500 Futures were flat while Nasdaq 100 Futures eased 0.1%.

Among stocks, Block Inc (NYSE:SQ) added 5.98%, Amazon.com Inc (NASDAQ:AMZN) gained 2.56%, Microsoft Corporation (NASDAQ:MSFT) lifted 231%, Apple Inc (NASDAQ:AAPL) added 0.5% and Micron Technology Inc (NASDAQ:MU) gained 2.25%.

Tesla Inc (NASDAQ:TSLA) surged 8.03% on news that it will ask shareholders to split its stock to pay dividends to investors. Other EV makers were mixed as Lucid Group Inc (NASDAQ:LCID) gained 0.87% and Rivian Automotive Inc (NASDAQ:RIVN) dipped 0.39%.

Heavyweight financial stocks eased, with JPMorgan Chase & Co (NYSE:JPM) down 0.74%, Citizens Financial Group Inc (NYSE:CFG) losing 2.07%, Bank of America Corp (NYSE:BAC) down 0.41%, Citigroup Inc (NYSE:C) dipping 1.45%, Wells Fargo & Company (NYSE:WFC) down 1.43%, Morgan Stanley (NYSE:MS) losing 1.2% and Goldman Sachs Group Inc (NYSE:GS) down 0.65%.

Energy companies were also lower amid demand concerns as China moves to lockdown its city due to a fresh spike in coronavirus cases. Occidental Petroleum Corporation (NYSE:OXY) fell 3.53%,. Devon Energy Corporation (NYSE:DVN) dipped 3.28%, Exxon Mobil Corp (NYSE:XOM) lost 2.81%, Chevron Corp (NYSE:CVX) declined 1.75% and ConocoPhillips (NYSE:COP) shed 3.72%.

On the bond markets, United States 10-Year rates remained at 34-month highs of 2.466%, while the 5-Year rate lifted to 2.562%, the first inversion since 2006 and stoking recession fears.

Investors are awaiting Consumer Confidence, home price and JOLTS job openings data to be released ahead of Friday’s monthly jobs report, while Lululemon Athletica Inc (NASDAQ:LULU) and RH (NYSE:RH) are set to report earnings results after the bell.

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