The Dow is coming off of a 500 point rally on Tuesday.
U. S. stock futures were flat in overnight trading, following a big rally in the previous session fueled by growing belief that the worst may be over for the world’s largest economy.
Dow futures fell 39 points, indicating a loss of 0.1% at the open on Wednesday. The S&P 500 futures fell 0.06% and Nasdaq-100 was set to open slightly higher.
U. S. equities rallied on Tuesday, helped by a bevy of bullish news, including a historic jump in retail sales. The U. S. government reported a record 17.7% increase in retail sales for May.
Stocks were also helped by a Bloomberg News report that the Trump administration is preparing a near $1 trillion infrastructure bill. Positive trail results showed dexamethasone — a widely available drug — can help critically ill coronavirus patients, which also boosted equities. The treatment reportedly reduced Covid-19 deaths in hospitalized patients by up to one third.
On Tuesday, the Dow Jones Industrial Average climbed 526 points, or 2.04%.
