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U.S. stocks poised for a higher, but nervous, start after tech-driven selloff


Tuesday, 3 April 2018 16:19 WIB

DOW JONESS & P 500SahamAS


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U.S. stocks looked set to open higher on Tuesday, after suffering a rough start to the new month and quarter as technology stocks struggled.

Dow Jones Industrial Average futures rose 51 points, or 0.2% to 23,603, while S&P 500 futures added 10.25 points, or 0.4%, to 2,585.75. Nasdaq-100 futures were up 32.25 points, or 0.5%, to 6,425.50.

Led by selling for big technology names, U.S. stocks tumbled on Monday. The Dow finished down 458.92 points, or 1.9%, to 23,644.19. All 30 components were below their 50-day moving average, a sign that short-term momentum may be trending to the downside.

The S&P 500 declined 2.2%, closing below its 200-day moving average for the first time since the United Kingdom’s vote for Brexit in June 2016.

Meanwhile, the Nasdaq Composite Index slid 2.7%. The tech-heavy index is down 0.5% for 2018 and nearing correction territory, defined as a drop of at least 10% from a peak.

Source: Marketwatch


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