Stock futures erase losses, turn positive as tech shares continue their rebound.
U.S. stock futures clawed back their earlier losses and traded higher on Thursday as tech shares continued their rebound following a torrid three-day sell-off.
Dow Jones Industrial Average futures were just above the flatline. S&P 500 futures gained 0.2% and Nasdaq 100 futures traded 0.8% higher. Apple shares were up 2.4%, building on a 4% jump from the previous session. Tesla was up 5.6% after surging nearly 11% on Wednesday. Earlier this week, Tesla suffered its worst day on record. Facebook, Amazon, Netflix, Alphabet and Microsoft were also higher.
Thursday's moves follow a broad rally for the market on Wednesday, with the S&P 500 posting its best day since June. The Nasdaq pulled itself out of correction territory after a sell-off for major tech stocks dragged down the market for three straight sessions. The three-day drop came amid increasing worry on Wall Street about a tech bubble, with those stocks fueling the Nasdaq to record highs despite the hit to the economy from the coronavirus pandemic. Some said the pullback did not go far enough, with Duquesne Family Office CEO Stanley Druckenmiller telling CNBC on Wednesday morning that the market was in an "
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