Nasdaq 100 futures pulled away on Sunday night as Wall Street turned its attention to the start of the 2nd quarter.
Nasdaq 100 futures shed 0.31%, while S&P 500 futures moved 0.08%. Futures for the Dow Jones Industrial Average ticked up 47 points, or 0.14%.
The relocates futures come ahead of the very first trading day of the 2nd quarter onMonday All 3 significant averages were favorable in the very first quarter, regardless of chaos in the banking sector highlighted by the collapse of Silicon Valley Bank in March.
The Nasdaq Composite blazed a trail with a gain of 16.8% as tech stocks rebounded from a harsh slide in 2015. It was the index’s finest stretch given that the 2nd quarter of 2020.
Meanwhile, the S&P 500 increased 7% in the very first 3 months of the year for its second-straight favorable quarter. The Dow industrials lagged however still handled to grind out an advance of 0.4%.
“For now at least, tech is seen as a safe haven of all things, immune to the news in banking. The S&P 500, in turn, seems held together by its own heavy weighting in Tech, names like Microsoft, Apple and the like,” Wellington Shields technical expert Frank Gretz stated in a note to customers.
The very first week of the brand-new quarter is a reduced one for Wall Street, as trading will be closed for GoodFriday However, there will be numerous crucial pieces of financial information for financiers, consisting of task openings information on Tuesday, ADP personal payrolls report on Wednesday and the carefully enjoyed month-to-month tasks report on Friday.
One aspect that traders will be viewing today is energy, as oil futures got on Sunday night following a statement of production cuts from Saudi Arabia and other OPEC+ members.