Futures tied to the Dow Jones Industrial Average fell 23 points, or 0.07%. S&P 500 futures fell 0.1% and Nasdaq 100 futures lost 0.2%. In regular trading, all three major averages ended the day higher. The Dow rose more than 400 points, while the S&P 500 hit its highest level since June. The tech-heavy Nasdaq Composite jumped about 2.5%. Investors got the green light to return to established tech names after a surprise rebound in July services PMIs and comments from St. Louis Federal Reserve Bank President James Bullard. Bullard said he does not believe the U.S. is in a recession, citing job gains and low unemployment. “US-China tensions remain high and the Fed continues to talk tough on inflation, but gains were enough to catalyze the next leg of the recovery,” according to Barclays. “A wave of quarterly technology magazines came in better than expected and the [technology, media and entertainment, and telecommunications] The cluster drove the S&P 500 to a new QTD high.” Investors will get another batch of earnings on Thursday. Eli Lilly, Kellogg, Alibaba and ConocoPhillips are among those scheduled to report quarterly results before the bell. On economic data, investors look to weekly jobless claims in the morning. Federal Reserve Bank of Cleveland President Loretta Mester speaks to the Financial Club of Pittsburgh.
