By Oliver Gray
Investing.com - U.S. stock futures were trading mixed in early APAC deals on Wednesday after major benchmark indices rebounded from a three-day losing streak during regular trade as market participants enjoyed a strong relief rally in technology and travel related stocks.
During Tuesday’s regular trade, The Dow added 560.54 points or 1.6% to 35492.71, the S&P 500 rose 81.21 points or 1.78% to 4649.22 and the Nasdaq Composite gained 360.14 points or 2.4% to 15341.09.
Dow Jones 30 Futures rose 0.03%. S&P 500 Futures inched 0.04% lower and Nasdaq 100 Futures slipped 0.1%.
Among stocks, major technology players surged, with Microsoft Corporation (NASDAQ:MSFT) up 2.31%, Amazon.com Inc (NASDAQ:AMZN) adding 2%, Meta Platforms Inc (NASDAQ:FB) up 2.69%, Twitter Inc (NYSE:TWTR) gaining 1.91%, Block Inc (NYSE:SQ) rallying 7.69% and Alphabet Inc (NASDAQ:GOOGL) up 1.32%.
Chipmakers gained with Micron Technology Inc (NASDAQ:MU) surging 10.54% after posting better than expected earnings for the prior quarter, while NVIDIA Corporation (NASDAQ:NVDA) added 4.89%, NXP Semiconductors NV (NASDAQ:NXPI) gained 3.09% and Advanced Micro Devices Inc (NASDAQ:AMD) lifted 6.22%.
EV makers closed higher with Tesla Inc (NASDAQ:TSLA) up 4.29%, Rivian Automotive Inc (NASDAQ:RIVN) surging 7.6% and Lucid Group Inc (NASDAQ:LCID) up 0.08%.
Stocks related to the economic reopening, such as airlines, cruise lines and entertainment stocks, saw some relief buying, with Delta Air Lines Inc (NYSE:DAL) up 5.91%, United Airlines Holdings Inc (NASDAQ:UAL) gaining 6.89% and Carnival Corporation (NYSE:CCL) surging 8.68%, Expedia Inc (NASDAQ:EXPE) lifting 9.14%, Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) adding 6.99%, Booking Holdings Inc (NASDAQ:BKNG) up 7.11% while Boeing Co (NYSE:BA) rallied 5.86%.
Nike Inc (NYSE:NKE) finished 6.15% higher after reporting quarterly earnings and sales that exceeded analysts’ expectations despite ongoing supply chain pressures.
Crude Oil prices bounced back to above $70 a barrel, spurring a rebound in energy names as Occidental Petroleum Corporation (NYSE:OXY) gained 6%, Devine Ltd (ASX:DVN) added 7.97%, Exxon Mobil Corp (NYSE:XOM) lifted 2.27%, ConocoPhillips (NYSE:COP) added 3.03% and Chevron Corp (NYSE:CVX) gained 1.6%.
On the bond markets, United States 10-Year yields were at 1.467%.
Investors are looking forward to economic data set to be released later in the session including existing home sales, GDP and consumer confidence numbers.