| What to watch today: Stock futures fall after Dow record as yields jump | | |  | TUE, MAR 30, 2021 | | | | AS OF TUE, MAR 30, 2021 • 08:46 ET | | Dow Jones Fut | | 33,171.37 | | Current: | 32,982.00 | | Change: | -50.00 | | Impl. Open: | -67.37 | | | S&P 500 Fut | | 3,971.09 | | Current: | 3,943.75 | | Change: | -15.25 | | Impl. Open: | -17.34 | | | NASDAQ 100 Fut | | 12,965.74 | | Current: | 12,858.50 | | Change: | -86.00 | | Impl. Open: | -95.24 | | | Russell 2000 Mini | | 2,158.68 | | Current: | 2,148.90 | | Change: | -6.50 | | Impl. Open: | -.58 | | | U.S. stock futures dropped Tuesday as the 10-year Treasury yield hit a 14-month high in early trading. On Monday, the Nasdaq dropped and the S&P 500 fell from the previous session's record close. The Dow bucked Monday's downdraft, closing at another record despite weakness in bank stocks caught in the fallout of the Archegos Capital Management margin call chaos. (CNBC) | | | | The 10-year Treasury yield topped 1.77% early Tuesday, taking out another January 2020 high, as Covid vaccine rollouts and planned infrastructure spending boosted hopes of a broad U.S. economic recovery. However, the move also stoked inflation fears and put growth stocks under pressure because higher rates erode the value of future profits and squeeze market valuations. (CNBC) | | | | On today's economic calendar, Tuesday brings the January S&P/Case-Shiller home price index at 9 a.m. ET. March consumer confidence is out at 10 a.m. ET. Today's after-the-bell earnings include Lululemon (LULU), Calvin Klein and Tommy Hilfiger owner PVH Corp. (PVH), BlackBerry (BB), and Chewy (CHWY). (CNBC) | | Virgin Galactic (SPCE) on Tuesday unveiled the latest spacecraft addition to its fleet: VSS Imagine. The spacecraft representing the first of its next-generation SpaceShip III class of vehicles, and adds a second spacecraft to its fleet. (CNBC) | | McCormick & Co. (MKC) reported adjusted quarterly profit of 72 cents per share, beating estimates. Revenue exceeded expectations as well. The spice and condiment maker also raised its full-year forecast, as the pandemic continues to see more consumers cooking at home. McCormick shares gained 2.1% in the premarket. | | | | Albertsons (ACI) announced a wide-ranging partnership with Alphabet-owned Google to integrate a variety of Google services to enhance the shopping experience for the supermarket chain's customers. | | | | T-Mobile US (TMUS) will end its TVision live television service at the end of April. The wireless carrier will instead offer its customers discounts to subscribe to Google's YouTube TV service. | | | | FactSet (FDS) reported adjusted quarterly earnings of $2.72 per share, missing estimates by 2 cents, while revenue was in line with Wall Street forecasts. The financial information provider also predicted full-year adjusted earnings of $10.75 to $11.15 per share, compared to a consensus estimate of $11.17. | | | | DraftKings (DKNG) announced the acquisition of sports betting and content company VSiN for an undisclosed amount. DraftKings shares jumped 1% premarket. | | Rapper Lil Nas X is collaborating with a streetwear company on "Satan Shoes." Only 666 pairs went on sale Monday and sold out immediately for $1,018 each. The controversial kicks, apparently modified Nike Air Max 97s, contain a drop of human blood in the sole. Nike denied any involvement. (NBC News) | | |
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