Stock Futures Trading Saw a Downtick After S&P 500 Reaches New Record

Stock Futures

U.S. stock futures were slightly lower in overnight trading yesterday after the S&P 500′s rally saw its index crossing the 4,500 level for the first time ever on Wednesday.

Dow futures decreased by 30 points. S&P 500 were down by 0.15% and Nasdaq 100 futures lost 0.24%.

Shares of software giant Salesforce increased 2% in extended trading. Ulta Beauty also increased 6% after after-hours trading on strong results.

“The 10-year Treasury bond yield has continued rising in recent days and exploded higher in trading, sending a strong message that the Delta variant of Covid may be peaking in the U.S., which should improve confidence, restart economic reopenings, and drive investment flows toward small caps and cyclical,” said Jim Paulsen, chief investment strategist at the Leuthold Group.

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