From CNBC's "Dow futures fall more than 150 points fall as Treasury yields tick higher" posted early Thursday:
U.S. stock futures dipped Thursday, as a massive rally to start the month eased, with rates ticking higher once again...
Wall Street started the week on a high note, with the S&P 500 staging its biggest two-day rally since 2020. Stocks fought to keep the winning streak going Wednesday but ultimately fell short. The Dow closed about 42 points lower, or 0.14%. The S&P 500 and the Nasdaq Composite slid 0.20% and 0.25%, respectively.
“Few are convinced that the recent move is more than a bear market rally, with skepticism over the durability,” said Mark Hackett, chief of investment research at Nationwide. “Confidence remains weak, ranging from CEOs, small businesses, consumers, and investors. Universal pessimism is bullish from a contrarian perspective, though timing of the pendulum swing is difficult to predict.”
Charts: Yahoo!Finance sees a neutral gap up pattern. Max pain moves up $1 to $145 with a call mountain at $142.50 (down $7.50) and a put peak at $140 (up $5).