U.S. stock
index futures were slightly higher on Tuesday as technology stocks continued to
recover from their steep selloff last week.
The S&P
technology sector .SPLRCT is coming off two straight weeks of losses on worries
about the sector's valuation and a move into more defensive sectors. Tech
stocks have led the S&P 500's 9.6 percent rally this year.
Apple
(AAPL.O), Amazon (AMZN.O), Alphabet (GOOGL.O) and Netflix (NFLX.O) were all up
about 0.3 percent in premarket trading.
The S&P
500 and the Dow Jones Industrial Average hit record highs on Monday with tech
stocks finding favor as investors appeared to regain confidence in the economy
after upbeat comments from Federal Reserve officials.
Chicago Fed
President Charles Evans said it may be worthwhile for the U.S. central bank to
wait until year-end to decide whether to raise rates again.
New York Fed
head William Dudley said inflation was a bit low but should rise alongside
wages as the labor market continues to improve.
Investors
will once again turn their attention to Fed speakers with Boston Fed head Eric
Rosengren and Dallas Fed chief Robert Kaplan scheduled to make appearances.
Oil prices
fell to seven-month lows after news of increases in supply, a trend which has
undermined attempts by OPEC and other producers to support the market through
reduced output. [O/R]
Among
stocks, Lennar (LEN.N)
rose 3.8 percent to $54.75 after the No. 2 U.S. homebuilder reported a
higher-than-expected quarterly profit.
Parexel
International (PRXL.O)
jumped 8.1 percent to $90.68 after a source said private equity firm Pamplona
Capital is nearing a deal to acquire the pharmaceutical research services
provider for more than $4.5 billion
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