U.S. stock-market futures rose Sunday night as Treasury yields continued to pull back from highs last week.
Dow Jones Industrial Average futures YM00, 0.79% were up more than 200 points, or 0.7%, while S&P 500 futures ES00, 0.97% and Nasdaq-100 futures NQ00, 1.58% gained nearly 1%. Meanwhile, the 10-year Treasury note yield TMUBMUSD10Y, 1.411% dipped to 1.386% early in Sunday trading, then slowly regained ground, last at 1.412%. Bond prices move inversely to yields.
The 10-year note yield rattled stock-market investors Thursday when it shot above 1.50%, then slipped to 1.459% on Friday.
Read: As rising Treasury yields spook stock investors, March looms like a lion
Investors were likely also heartened after the House approved a $1.9 trillion coronavirus relief package early Saturday and Johnson & Johnson JNJ, -2.64% won federal approval for its coronavirus vaccine — the third approved in the U.S. — and started shipping doses Sunday night.
Last week, the Dow DJIA, -1.50% lost 1.8%, the S&P 500 SPX, -0.48% fell 2.5%, and the Nasdaq Composite COMP, +0.56% slid 4.9%. That marked the Nasdaq’s biggest slide since the week ended Oct. 30, according to FactSet data. February was still a winning month for equites though, with the Dow up 3.2%, the S&P 500 rising 2.6%, and the Nasdaq inching up 0.9%.