Belpointe chief strategist David Nelson and New Street Advisors Group CEO and CIO Delano Saporu discuss their outlooks for the stock market.<\/p>\n
U.S. equity futures are trading higher, adding to Tuesday's gains sparked by the Nasdaq's best session in more than four months.<\/p>\n
The major futures indexes suggest a rise of 0.2% when the Wednesday trading session begins.<\/p>\n
GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/strong><\/p>\n Investors will get to examine inflation on the retail level when the the Bureau of Labor Statistics releases the February report on consumer prices. Expectations are that prices rose 0.4%, slightly above the previous month’s 0.3% increase. On a year-over-year basis watch for prices to jump 1.7%, up from January’s 1.4% rise.<\/p>\n MANUFACTURERS MOST OPTIMISTIC IN 2 YEARS, EXPRESS CONCERNS WITH PRO ACT: SURVEY<\/strong><\/p>\n Asian stock prices followed Wall Street higher on Wednesday following a rally for major tech companies.<\/p>\n The Nikkei 225 in Tokyo advanced 0.1%, the Hang Seng in Hong Kong added 0.5% and China's Shanghai Composite Index was off 0.1%.<\/p>\n Wall Street's benchmark S&P 500 index closed up 1.4%, led by gains for Apple, Amazon and other tech majors. The Nasdaq composite index, dominated by tech shares, surged 3.7% for its biggest gain in four months.<\/p>\n Markets have been adjusting to a rise in long-term interest rates in the bond market, which has pulled money out of stocks. A reversal in bond market trends at least temporarily sent investors back to companies they hope will thrive after the coronavirus pandemic ends.<\/p>\n The yield on the benchmark 10-year notes slipped to 1.54%.<\/p>\n On Wall Street, the S&P 500 rose Tuesday to 3,875.44. Communication companies and those that rely on consumer spending contributed to the increase. Financial, energy and industrial stocks lagged the broader market.<\/p>\n Apple rose 4.1%, chipmaker Nvidia climbed 8% and Tesla jumped 19.6% for the biggest gain in the S&P 500.<\/p>\n The Dow Jones Industrial Average, which is weighted less toward tech, rose 0.1% to 31,832.74.<\/p>\n The Nasdaq advanced to 13,073.82. Despite that, the index is 7.2% below its Feb. 12 high. On Monday it closed 10% below its peak in what is known as a correction on Wall Street.<\/p>\n Financial sector stocks, which had benefited from the rise in bond yields, were the biggest decliners Tuesday. Bank of America fell 2.2%, while American Express slid 3.4%. Banks and credit card issuers tend to do well when interest rates are rising because they can charge higher rates.<\/p>\n\n\n
\n \nTicker<\/th>\n Security<\/th>\n Last<\/th>\n Change<\/th>\n Change %<\/th>\n<\/tr>\n<\/thead>\n \n I:DJI<\/td>\n DOW JONES AVERAGES<\/td>\n 31832.74<\/td>\n +30.30<\/td>\n +0.10%<\/td>\n<\/tr>\n \n SP500<\/td>\n S&P 500<\/td>\n 3875.44<\/td>\n +54.09<\/td>\n +1.42%<\/td>\n<\/tr>\n \n I:COMP<\/td>\n NASDAQ COMPOSITE INDEX<\/td>\n 13073.824517<\/td>\n +464.66<\/td>\n +3.69%<\/td>\n<\/tr>\n \n Powered by<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n