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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Nasdaq futures down 1% as bond yields extend rally

09/28/2021 | 05:25am EDT

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

Sept 28 (Reuters) - Nasdaq futures fell more than 1% on Tuesday as technology heavyweights came under pressure from a surge in bond yields, which have been lifted by expectations of higher interest rates following recent comments from the Federal Reserve.

The two-year U.S. Treasury yield surged to 18-month highs, weighing on shares of high-growth companies whose values rest heavily on future earnings.

Facebook Inc, Amazon.com Inc, Apple , Tesla Inc and Google-parent Alphabet Inc dropped 1.2% to 1.5% in early premarket trading.

The Nasdaq Composite index shed 1% on Monday, as investors rotated from technology stocks to economically sensitive sectors of the market such as financials and energy.

The higher prices and hiring difficulties seen as the U.S. economy reopens from the pandemic could prove "more enduring than anticipated," Federal Reserve Chairman Jerome Powell said in prepared remarks ahead of his hearing before the U.S. Senate Banking Committee.

A host of other Fed officials including St. Louis Fed President James Bullard, Fed Bank of Chicago President Charles Evans and Fed Bank of Atlanta President Raphael Bostic are also slated to speak later in the day at separate events.

At 05:05 a.m. ET, Dow e-minis were down 105 points, or 0.3%, S&P 500 e-minis fell 0.7% and Nasdaq 100 E-minis lost 202.75 points, or 1.33%. (Reporting by Sruthi Shankar and Medha Singh in Bengaluru; Editing by Subhranshu Sahu)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.02% 2835.38 Delayed Quote.63.45%
AMAZON.COM, INC. -0.84% 3415.06 Delayed Quote.5.83%
APPLE INC. 0.34% 149.26 Delayed Quote.12.11%
FACEBOOK INC 0.23% 340.78 Delayed Quote.24.47%
TESLA, INC. 0.18% 865.8 Delayed Quote.22.48%
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Financials (USD)
Sales 2021 119 B - -
Net income 2021 40 426 M - -
Net cash 2021 79 410 M - -
P/E ratio 2021 24,2x
Yield 2021 -
Capitalization 961 B 961 B -
EV / Sales 2021 7,38x
EV / Sales 2022 5,97x
Nbr of Employees 63 404
Free-Float 84,0%
Duration : Period :
Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 52
Last Close Price 340,78 $
Average target price 417,26 $
Spread / Average Target 22,4%
EPS Revisions
Managers and Directors
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
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