US equity futures remained unchanged in overnight trading after the stocks were weak in the previous session.
Dow futures rose 40 points, up 0.16%. The S & P 500 and the Nasdaq-100 should also open higher with a plus of 0.08% and 0.12% respectively.
Tuesday saw the Dow Jones Industrial Average drop 397 points, or 1.5%, breaking a two-day winning streak. The Dow was overthrown by a 4.8% drop in Boeing. The S&P 500 also lost 1
The Nasdaq Composite lost 0.86% after hitting its 27th intraday all-time high last year on Tuesday. The technology-intensive index was positive for most of the day thanks to the strength of Apple, Microsoft, Facebook and Netflix, which all hit record highs.
“While significant gains in technology stocks kept the market afloat yesterday, even these treasure troops surrendered in the afternoon today,” Jim Paulsen, chief investment strategist at Leuthold Group, told CNBC.
Stocks that depend on the reopening of the economy depressed the broader market as investors digested a resuscitation of US coronavirus cases. According to Johns Hopkins University, more than 2.93 million coronavirus cases and at least 130,306 deaths have been confirmed in the United States.
“Concerns about rising US Covid cases continued to shake confidence in the resumption of efforts around the country,” added Paulsen.
Sentiment rose when the US government placed a $ 1.6 billion order for drug maker Novavax to develop a coronavirus vaccine. This was the largest amount ever granted under the Operation Warp Speed of the White House.
Subscribe to something CNBC PRO for exclusive insights and analyzes as well as live business day programs from all over the world.