Dow futures trade flat following Tuesday’s bank stock comeback: Live updates – CNBC
Stock futures were flat early Wednesday morning after bank shares rallied on Tuesday, and investors shook off fears that recent banking turmoil would spread to the broader sector.
Futures tied to the Dow Jones Industrial Average dipped 10 points, or less than 0.1%, while S&P 500 futures and Nasdaq 100 futures each gained about 1 point.
First Republic and other banking shares rose in overnight trading, building on Tuesday’s recovery, while shares of homebuilder Lennar added 3% on positive earnings results.
The overnight moves followed a positive day for the three major averages. The Dow Jones Industrial Average adding 336 points to snap a five-day losing streak. The Nasdaq Composite gained 2.14%, while the S&P 500 jumped 1.65%.
The 11 S&P sectors finished in positive territory Tuesday, led to the upside by communication services, which gained 2.75%. Financials got a 2.2% boost, thanks to a comeback in banking stocks as investors bet on the sector’s resilience despite the…
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