U.S. stock futures were little changed in early morning trade on Wednesday, following a big rally in the previous session that was fueled by growing belief the worst may be over for the world’s largest economy.

Dow futures dipped 18 points, but implied a gain of about 23 points at the open on Wednesday. Meanwhile, S&P 500 and Nasdaq-100 futures pointed to a slightly higher Wednesday open for the two indexes.

U.S. equities rallied on Tuesday, helped by a bevy of bullish news, including a historic jump in retail sales. The U.S. government reported a record 17.7% increase in retail sales for May.

Stocks were also helped by a Bloomberg News report that the Trump administration is preparing a near $1 trillion infrastructure bill. Positive trial results showed dexamethasone — a widely available drug — can help critically ill coronavirus patients, which also boosted equities. The treatment reportedly reduced Covid-19 deaths in hospitalized patients by up to one third.

Source : Bloomberg