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By Shreyashi Sanyal
(Reuters) - Futures tracking the Nasdaq 100 index rose on Friday
as a two-day selloff in technology-related stocks halted, while
worries about rising coronavirus cases and a patchy economic
recovery weighed on S&P 500 and Dow futures.
Wall Street's three main indexes bounced earlier this week as
investors bet on a loose monetary policy by the Federal Reserve,
but gains petered out in the absence of firm details on the
central bank's stimulus plan.
The S&P 500 <.SPX> and the Nasdaq <.IXIC> have also come under
pressure from investors rotating out of high-flying tech-related
stocks and into industrial and transportation firms.
Of the 11 major S&P indexes, industrials <.SPLRCI>, materials <.SPLRCM>
and energy <.SPNY> have gained more than 2% so far this week,
while communication services <.SPLRCL> and consumer
discretionary <.SPLRCD> have posted the biggest declines.
At 6:33 a.m. ET, Dow e-minis <1YMcv1> were down 33 points, or
0.12%. S&P 500 e-minis <EScv1> were up 2 points, or 0.06% and
Nasdaq 100 e-minis <NQcv1> were up 48.5 points, or 0.44%.
Tesla Inc <TSLA.O> rose 2.1% in premarket trading after two
analysts raised their price targets on the electric carmaker's
shares ahead of its highly anticipated "Battery Day" event next
week.
Volatility is likely to be higher on Friday related to a
quarterly expiration of U.S. stock options, stock index futures
and index option contracts, known as "quadruple witching".
(Reporting by Shreyashi Sanyal and Devik Jain in Bengaluru;
Editing by Maju Samuel)
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