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Saturday, May 8, 2021

Stock Futures send mixed signals after tech selloff

Must Read

  • Nasdaq and S&P futures down
  • Dow and Russell futures up

Following the most tumultuous day for big-tech since the March lows, the futures indices followed suit, opening down and slipping further into the red. The tech-heavy Nasdaq futures index dropped farthest, underperforming the more balanced S&P, Dow, and Russell 2000 futures. As of this writing, 8:04PM CST, the Nasdaq Futures clocks in at 11,664.50 after a 136.00 point drop (-1.15%) The S&P Futures is down -7.25 (-0.21%) now reading 3,454.25. 

But the Dow Jones Futures turned green, up 14.00 points or (+0.05%), now 28,365.00. The Russell 2000 Futures turned green as well, reading 1,555.40, up +5.90 (+0.38%).

What this signals: While the big-cap techs are still licking their wounds from a major reversal in fortune on Thursday, the markets are signalling that there might be a more optimistic outlook for cyclicals and industrials. 

Stock Futures updates to follow, leading into another jobs report due Friday morning.

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