By Oliver Gray
Investing.com - U.S. stock futures were trading slightly higher in early APAC deals on Wednesday, after major benchmark indices gained during regular trade as investors continue to digest an aggressive policy tightening forecast from the Federal Reserve.
The Dow Jones Industrial Average rose 254.47 points or 0.74% to 34,807.47 on Tuesday. The S&P 500 climbed 50.43 points or 1.13% to 4,511.6 and the NASDAQ Composite added 270.36 points or 1.95% to 14,108.82.
Dow Jones Futures added 0.11%, S&P 500 Futures gained 0.12% and Nasdaq 100 Futures gained 0.1%.
Among stocks, technology heavyweights outperformed, as Block Inc (NYSE:SQ) gained 5.17%, Amazon.com Inc (NASDAQ:AMZN) added 2.1%, Microsoft Corporation (NASDAQ:MSFT) gained 1.64%, Meta Platforms Inc (NASDAQ:FB) lifted 2.44%, Apple Inc (NASDAQ:AAPL) added 2.08% and Alphabet Inc (NASDAQ:GOOGL) lifted 2.77%.
EV makers also surged, with Tesla Inc (NASDAQ:TSLA) up 7.91%, Rivian Automotive Inc (NASDAQ:RIVN) adding 7.74% and Lucid Group Inc (NASDAQ:LCID) up 4.96%.
Financial stocks also rallied as bond yields moved higher. JPMorgan Chase & Co (NYSE:JPM) gained 2.13%, Citizens Financial Group Inc (NYSE:CFG) added 1.79%, Bank of America Corp (NYSE:BAC) gained 3.13%, Citigroup Inc (NYSE:C) lifted 0.91%, Wells Fargo & Company (NYSE:WFC) added 4.4%, Morgan Stanley (NYSE:MS) gained 1.74% and Goldman Sachs Group Inc (NYSE:GS) added 1.18%.
Nike Inc (NYSE:NKE) also lifted 2.23% following better than expected earnings results.
On the bond markets, the United States 10-Year yield on Tuesday hit 2.39% at the highs of the session, its highest level since May 2019.
On the economic front, new homes sales data from February is set to be released later in the session, along with corporate earnings results from General Mills Inc (NYSE:GIS), Cintas Corporation (NASDAQ:CTAS) and Tencent Music Entertainment Group (NYSE:TME).