Bond Yields Weigh on Stock Futures Yet Again

The 10-year Treasury yield hit another 14 month high

Deputy Editor
Mar 30, 2021 at 9:24 AM
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Rising bond yields are plaguing the market again, after the 10-year Treasury yield jumped 6 basis points to another 14-month high of 1.77%, bolstered by an accelerating vaccine rollout, and expectations of rising inflation as the economy recovers. Futures on the Dow Jones Industrial Average (DJI) are falling from last night's record close, while futures on the S&P 500 Index (SPX) are also firmly situated in the red ahead of the open. Nasdaq-100 Index (NDX) futures are getting hit the hardest, as investors cycle back out of tech.

Continue reading for more on today's market, including:

  • Several reasons why bulls might want to target Wayfair stock next month. 
  • Why options bulls are getting in on Intel stock's rally
  • Plus, ACI partners with Google; MCK enjoys quarterly profit beat; and ROKU gets a bull note. 
  • Futures Chart March 30 2021

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.53 million call contracts traded on Monday, and 778,074 put contracts. The single-session equity put/call ratio fell to 0.51 and the 21-day moving average rose to 0.48.
  2. Retailer Albertsons Companies Inc (NYSE:ACI) just announced it was partnering with Alphabet (GOOGL) to create services via Google that will improve the shoppers' experience. ACI is up 0.8% before the open. 
  3. McCormick & Company, Incorporated (NYSE:MCK) entered the earnings confessional with fiscal first-quarter profits of 72 cents per share which topped analysts' estimates. MCK's revenue also beat analysts' estimates, and the company lifted its full-year forecast. The security was last seen up 4.3% before the open. 
  4. Truist Financial just upgraded Roku Inc (NASDAQ:ROKU) to a "buy" from a "hold" rating, citing multiple revenue growth opportunities as well as the stock's current valuation. ROKU is up 0.4% in premarket trading. 
  5. Today, investors will pore over the Case-Shiller national home price index, and the consumer confidence index. 

OV Buzz Chart March 30

Asian Investors Eye Bank Giant Nomura After Monday's Devastating Dip 

Stocks in Asia rose today, as investors monitored financial giant Nomura and its sharp drop on Monday. South Korea’s Kospi was the biggest winner, adding 1.1%. Hong Kong’s Hang Seng and China’s Shanghai Composite gained  0.8% and 0.6%, respectively. Japan’s Nikkei rounded out the region with a 0.2% gain, even after retail sales declined 1.5% from a year earlier and notably less than the median market forecast of a 2.8% decline.

European markets are higher at midday, as well. New survey data out of the Euro zone showed economic sentiment jumped to 101 points in March from 93.4 in February, while analysts expected a more modest rise. At last check, the German DAX is up 0.6%, France’s CAC 40 is 0.5% higher, and the London FTSE 100 has added 0.1%.

Trader: Sell These 8 Stocks in 2021

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