Nasdaq futures rise 1% as tech stocks snap back

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U.S. stock index futures jumped on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound even as some states braced for new business restrictions to combat surging infections.

Encouraging data from a late-stage vaccine earlier this week prompted a rotation away from stay-at-home beneficiaries, such as technology shares, and lifted demand for stocks sensitive to economic growth, as well as those that have lagged this year including energy, financials and industrials.

The top U.S. infectious disease specialist urged caution until a vaccine can be approved and distributed, as California and several states across the U.S. Midwest tightened restrictions for residents. Markets also got a boost after Democrat Joe Biden was projected the winner of the U.S. election on Saturday. While President Donald Trump pursues a flurry of lawsuits challenging the results, legal experts say the litigation has little chance of changing the outcome.

 

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Tech stocks now I'll just leave you to ponder why that's not surprising!

More good news please(((

90% of news about covid and trump

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