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.
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%.