S&P 500 futures up 5 points
Look for a 5-point gain in US equities at the open after a 34-point decline in the S&P 500 yesterday. As usual, tech outperformed yesterday while the Russell 2000 underperformed.
The big hurdle for me will be virus cases in Florida and Arizona. The market initially liked both yesterday but they were a result of fewer tests. Those generally rebound on Wednesday and we're likely to see higher confirmed cases (and a US record) if the positivity rates hold up.
In terms of individual stocks, aluminum giant Alcoa is up 5.6% premarket after better preliminary earnings, including better sales. It's a bellwether stock and a good sign for industrials.
