FILE PHOTO: A statue of George Washington is seen on Wall St. across from the New York Stock Exchange in New York, U.S., February 16, 2021. REUTERS/Brendan McDermidShares of Apple Inc, Amazon.com Inc, Microsoft Corp, Alphabet Inc, Facebook Inc and Netflix Inc were down between 0.6per cent and 0.9per cent before the bell.The S&P 500 and the Nasdaq were knocked off their all-time highs last week after a sharp rise in U.S.
"Higher yields and steeper curves tend to be good for financials but less so for tech," said Karen Ward, chief market strategist EMEA at J.P. Morgan Asset Management.The Dow is poised for its best month since November 2020 as investors bought into cyclical companies set to benefit from an economic reopening, while the Nasdaq remains on track to wipe out nearly all of its gains for the month.At 06:50 a.m. ET, Dow E-minis were down 183 points, or 0.
Data on U.S. personal consumption, which includes one of the Federal Reserve's favored inflation measures, is expected to show core inflation dipped to 1.4per cent in January, which could help calm market worries. Stimulus will be back in focus as the Democratic-controlled U.S. House of Representatives aims to pass President Joe Biden's US$1.9 trillion coronavirus aid bill on Friday in what would be the first major legislative victory of his presidency.
GameStop Corp jumped 10per cent premarket as retail investors pushed up the stock in a renewed rally that could see it clock its second best week.Salesforce.com Inc slipped about 3per cent as the online software company forecast full-year profit below market expectations.
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