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Feb. 28, 2021, 11:59 p.m. EST

Dow futures up 200 points as Treasury yields retreat

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By Mike Murphy

U.S. stock-market futures rose Sunday night as Treasury yields continued to pull back from highs last week.

Dow Jones Industrial Average futures /zigman2/quotes/210407078/delayed YM00 -0.09% were up more than 200 points, or 0.7%, while S&P 500 futures /zigman2/quotes/209948968/delayed ES00 -0.10% and Nasdaq-100 futures /zigman2/quotes/210219788/delayed NQ00 -0.04% gained nearly 1%. Meanwhile, the 10-year Treasury note yield /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y 0.00% dipped to 1.386% early in Sunday trading, then slowly regained ground, last at 1.412%. Bond prices move inversely to yields.

The 10-year note yield rattled stock-market investors Thursday when it shot above 1.50%, then slipped to 1.459% on Friday.

Read: As rising Treasury yields spook stock investors, March looms like a lion

Also: Current bond-market selloff worse than ‘taper tantrum’ in one key way, argues analyst

Investors were likely also heartened after the House approved a $1.9 trillion coronavirus relief package early Saturday and Johnson & Johnson /zigman2/quotes/201724570/composite JNJ +1.15% won federal approval for its coronavirus vaccine — the third approved in the U.S. — and started shipping doses Sunday night .

Last week, the Dow /zigman2/quotes/210598065/realtime DJIA +0.48% lost 1.8%, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% fell 2.5%, and the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +0.10% slid 4.9%. That marked the Nasdaq’s biggest slide since the week ended Oct. 30, according to FactSet data. February was still a winning month for equites though, with the Dow up 3.2%, the S&P 500 rising 2.6%, and the Nasdaq inching up 0.9%.

/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 34,051.00
-30.00 -0.09%
Volume: 121,251
April 16, 2021 3:59p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,172.25
-4.05 -0.10%
Volume: 1.24M
April 16, 2021 4:00p
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/zigman2/quotes/210219788/delayed
US : U.S.: CME
$ 14,024.00
-5.50 -0.04%
Volume: 490,003
April 16, 2021 3:59p
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.58
0.00 0.00%
Volume: 0.00
April 16, 2021 4:55p
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/zigman2/quotes/201724570/composite
US : U.S.: NYSE
$ 162.24
+1.85 +1.15%
Volume: 9.05M
April 16, 2021 4:00p
P/E Ratio
29.43
Dividend Yield
2.49%
Market Cap
$422.26 billion
Rev. per Employee
$613,918
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,200.67
+164.68 +0.48%
Volume: 348.18M
April 16, 2021 5:15p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,185.47
+15.05 +0.36%
Volume: 2.21B
April 16, 2021 5:15p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
14,052.34
+13.58 +0.10%
Volume: 4.03M
April 16, 2021 5:16p
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