By Oliver Gray
Investing.com - U.S. stock futures were flat in overnight trading on Tuesday after a mixed session yesterday that saw the Nasdaq Composite close at record highs, as concerns of a slowing pace of economic recovery sapped investor appetite, while a soft U.S. payrolls report last week bolstered bets that the Federal Reserve would maintain its accommodative stance.
During Tuesday’s regular session, the S&P 500 fell 15.4 points or 0.34% to 4520.02 returning to trade after a public holiday on Monday. The Dow Jones Industrial Average dropped 269.09 points or 0.76% to 35100.01, while the NASDAQ Composite eked out a record close, adding 10.81 points or 0.07% to 15374.33.
Among stocks, big technology names fared well with Apple Inc (NASDAQ: AAPL ) rising 1.6% and Netflix Inc (NASDAQ: NFLX ) adding 2.7%, both hitting record highs. Spotify Technology SA (NYSE: SPOT ) added 2.28% during regular trade after KeyBanc said in a note to clients that the company was still showing faster growth than potential competitors. Match Group Inc (NASDAQ: MTCH ) lifted 7.54% after announcing that it will be added to the S&P 500 as of Sept. 20. Meantime, PPG Industries Inc (NYSE: PPG ) dipped 3.39% after flagging supply chain disruptions and higher input costs that could weigh on sales this quarter.
On the bond markets, local 10-year treasury yields were near 8-week highs of 1.365%.
Ahead in the week, the Labor Department will release its closely watched Job Openings and Labor Turnover Survey set to be released later in the session, while initial jobless claims data on Thursday will also be closely monitored.
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