Stock futures mixed as Fed tapering, tax concerns weigh


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Microsoft announces $60B stock buyback plan and increases its dividend

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we store Futures point to mixed openness as investors remain wary of the Federal Reserve Tapering schedules and tax hikes.

The Dow Jones Industrial Average futures slipped 26 points, or 0.08%, while the S&P 500 futures and Nasdaq 100 futures were up 0.03% and 0.1%, respectively.


The Dow and the S&P fell for the sixth time in seven sessions on Tuesday amid concerns that a slowdown in inflation could cause the Fed to begin tapering later this year. Investors also took note of a proposed tax increase that would help pay for President Biden’s $3.5 trillion spending package.

In shares, Microsoft Corp. The U.S. board of directors authorized a $60 billion stock buyback program and increased the company’s quarterly dividend by 11% to 62 cents per share.

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Wynn Resorts Ltd., Las Vegas Sands Corp. after Macau’s government tightened rules on casino operators. And MGM Resorts International remained under pressure. Shares of all three companies fell between 3.9% and 11% on Tuesday.

Coinbase Global Inc increased the size of its previously announced loan offering from $500 million to nearly $2 billion. The cryptocurrency exchange operator plans to use the funds raised to invest in product development and potential mergers and acquisitions.

West Texas Intermediate crude oil rose 95 cents to $71.42 a barrel and hit its highest level since July 30.

Meanwhile, gold fell by $3.20 to end at $1,803.90.

Most of the losses were in overseas markets.

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On European exchanges, France’s CAC was down 0.56% and Germany’s DAX 40 was down 0.24%, while Britain’s FTSE 100 was up 0.07%.

In Asia, Hong Kong’s Hang Seng index fell 1.84%, Japan’s Nikkei 225 0.52% and China’s Shanghai Composite Index fell 0.18%.

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