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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 -0.12% were up more than 200 points, or 0.7%, while S&P 500 futures /zigman2/quotes/209948968/delayed ES00 -0.13% and Nasdaq-100 futures /zigman2/quotes/210219788/delayed NQ00 -0.13% 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 -1.06% 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 +0.89% lost 1.8%, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.77% fell 2.5%, and the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +0.51% 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
$ 33,641.00
-41.00 -0.12%
Volume: 131,352
April 9, 2021 3:59p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,114.00
-5.50 -0.13%
Volume: 1.03M
April 9, 2021 4:00p
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/zigman2/quotes/210219788/delayed
US : U.S.: CME
$ 13,811.00
-18.50 -0.13%
Volume: 487,245
April 9, 2021 3:59p
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.66
0.00 0.00%
Volume: 0.00
April 9, 2021 4:59p
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/zigman2/quotes/201724570/composite
US : U.S.: NYSE
$ 161.25
-1.72 -1.06%
Volume: 8.42M
April 9, 2021 4:00p
P/E Ratio
29.25
Dividend Yield
2.51%
Market Cap
$424.52 billion
Rev. per Employee
$613,918
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,800.60
+297.03 +0.89%
Volume: 317.82M
April 9, 2021 5:15p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,128.80
+31.63 +0.77%
Volume: 0.00
April 9, 2021 5:15p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
13,900.19
+70.88 +0.51%
Volume: 3.52M
April 9, 2021 5:16p
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