By Sagarika Jaisinghani
(Reuters) – Futures tracking the and the Nasdaq indexes hovered near record highs on Friday as optimism around a speedy economic recovery overshadowed the Federal Reserve’s hawkish stance on monetary stimulus.
Wall Street’s main indexes were jolted earlier this week after the Fed unexpectedly signaled it could begin tapering its massive stimulus sooner than expected, setting the benchmark S&P 500 on course to snap a three-week winning streak.
However, investors returned to heavyweight technology stocks in particular on Thursday, focusing on the Fed’s projection of the economy growing a faster-than-expected 7% this year.
Shares of Apple Inc (NASDAQ:), Facebook Inc (NASDAQ:), Nvidia (NASDAQ:) Corp and Google-parent Alphabet (NASDAQ:) Inc rose as much as 1.2% in premarket trading.
Tech-heavy were up 0.2% by 06:36 a.m. ET.
and , on the other hand, were down 0.11%. The blue-chip Dow is on course for its second straight week of losses, with mining, financial and industrial stocks among the biggest decliners.
Shares of banks including JPMorgan Chase & Co (NYSE:), Goldman Sachs Group Inc (NYSE:) and Citigroup Inc (NYSE:), which tend to perform better when interest rates are high, fell between 0.2% and 0.5%, tracking a dip in bond yields. [US/]
U.S. e-commerce group eBay (NASDAQ:) rose 1% as Norway’s Adevinta said the two companies had secured final regulatory approval for a tie-up of their global classified ads businesses.
Transportation finance and logistics company CAI International Inc surged 45% after it agreed to a $1.1 billion takeover by Mitsubishi HC Capital Inc.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
