US STOCKS-Futures dip after S&P 500's best day in nine months

Reuters

Warning: This material has been prepared by a third party company, Reuters, which is independent of Davy. Davy has not reviewed the material and accepts no responsibility for errors or omissions, or for the information or opinions contained therein. It does not constitute investment advice.

 (For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window.)
    * Futures down: Dow 0.21%, S&P 0.33%, Nasdaq 0.36%

    By Shashank Nayar and Medha Singh
    March 2 (Reuters) - U.S. stock index futures retreated on
Tuesday after Wall Street's strong start to March as investors
closely monitored the bond market as well as progress on the
next round of fiscal stimulus.
    The S&P 500 ended 2.4% higher on Monday, its best day since
June as markets cheered approval of a third COVID-19 vaccine in
the United States and the U.S. House of Representatives' green
light for a $1.9 trillion coronavirus relief package.
    The U.S. Senate will start debating President Joe Biden's
relief bill this week when Democrats aim to pass the legislation
through a maneuver known as "reconciliation," which would allow
the bill to pass with a simple majority.  urn:newsml:reuters.com:*:nL2N2KZ10A
    At 6:32 a.m. ET, Dow E-minis  1YMcv1  were down 65 points,
or 0.21% and 500 E-minis  EScv1  were down 13 points, or 0.33%.
Nasdaq 100 E-minis  NQcv1  were down 47.5 points, or 0.36%.
    The U.S. bond markets have stabilized since a selloff sent
the benchmark 10-year Treasury yield  US10YT=RR  to a one-year
high last week, sparking fears over high valuations in the stock
market and emerging as a competitive alternative to equities.
    Later in the week, investors will focus on ISM's service
sector survey as well as the monthly U.S. jobs report to
ascertain the economic health.
    Bank of America Corp  BAC.N , Citigroup Inc  C.N , JPMorgan
Chase & Co  JPM.N , Wells Fargo & Co  WFC.N  and Morgan Stanley
 MS.N  dipped between 0.3% and 1.1% premarket.
    Zoom Video Communications Inc  ZM.O  jumped about 10% after
the company forecast current-quarter revenue above estimates, as
it expects millions of people to continue using its
video-conferencing platform.  urn:newsml:reuters.com:*:nL3N2KZ4GH
    GameStop  GME.N  and other "meme" stocks AMC Entertainment
 AMC.N  and Koss  KOSS.O  shed about 1% and 4.4% after a sharp
surge on Monday with no apparent news on the shares.

 (Reporting by Medha Singh in Bengaluru; Editing by Maju Samuel)
 ((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780,
outside U.S. +91 80 6182 2802; Twitter: https://twitter.com/medhasinghs;))

Warning: This content may be provided by regulated and unregulated entities and is not created, reviewed or endorsed by Davy. It is provided for general information purposes only and does not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Importantly, it does not constitute investment advice, as it does not contemplate the personal circumstances of any particular person or group of persons. Neither Davy nor the providers of the Third Party Content will be liable for any investment decision made based on the reliance on or use of such data, or any liability that may arise due to delays or interruptions in the delivery of the Third Party Content for any reason.