High-growth stocks including Apple Inc, Amazon.com Inc,
Microsoft Corp and Alphabet Inc rose between 0.3% and 0.7% in
premarket trading.
Facebook was up 1.5% after taking a beating a day earlier, when
its app and its photo-sharing platform Instagram were down for
hours before being restored late in the evening.
Most technology stocks were hammered on Monday as U.S. Treasury
yields ticked higher amid concerns about a potential U.S.
government debt default. [US/]
President Joe Biden said the federal government could breach its
$28.4 trillion debt limit in a historic default unless
Republicans join Democrats in voting to raise it in the two next
weeks.
Cyclical stocks held their ground including those of banks, with
Goldman Sachs Group Inc, Bank of America Corp and Morgan Stanley
rising between 0.8% and 1%.
Industrial conglomerate 3M Co added 0.7%, while oil giant
Chevron Corp gained 0.6%.
Investors are now looking ahead to the release of September
employment data on Friday that could pave the way for the
tapering of the U.S. Federal Reserve's asset purchase program.
Adding to bets on further tightening of monetary policy was
recent data, which showed increased consumer spending,
accelerated factory activity and elevated inflation growth.
At 6:51 a.m. ET, Dow e-minis were up 96 points, or 0.28%, S&P
500 e-minis were up 12 points, or 0.28%, and Nasdaq 100 e-minis
were up 43.25 points, or 0.3%.
Johnson & Johnson edged 0.6% higher after submitting data to the
U.S. Food and Drug Administration for emergency use
authorization of a booster shot of its COVID-19 vaccine in
people aged 18 years and older.
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Anil
D'Silva)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
![](column_spacer.png)
|
|