U.S. stock-index futures fell on Wednesday, as a renewed jump in U.S. Treasury yields and disappointing ADP's jobs data offset investors’ optimism about accelerating vaccine rollout in the U.S.

Global Stocks:

FXStreet reports that the Credit Suisse analyst team notes that the S&P 500 Index remains capped at its near-term downtrend at 3910/15 and further consolidation should be allowed for ahead of a resumption of the core bull trend, with support at 3792/74 expected to remain a solid floor.

“S&P 500 stays sidelined near-term as looked for, holding key flagged support at 3792/74 – the early February price gap and rising 63-day average – but capped at its near-term downtrend, seen today at 3910 and our core outlook remains unchanged. We continue to see scope for a lengthier high-level consolidation phase, but with our broader outlook bullish and we look for a resumption of the core uptrend in due course.” 

“Resistance moves to 3886/87 initially, with a break above 3910/15 needed to see the near-term downtrend break to suggest the core uptrend may have already resumed for a test next of the 3929/34 highs of last week.” 

“Support remains seen at 3861 initially, then the upper end of the price gap from Monday morning at 3843, which we look to try and hold.”

(company / ticker / price / change ($/%) / volume)

Microsoft (MSFT) resumed with a Buy at Citigroup; target $292

Oracle (ORCL) resumed with a Neutral at Citigroup; target $65

Tesla (TSLA) target raised to $730 from $325 at UBS; Neutral

Alcoa (AA) upgraded to Buy from Sell at Goldman; target raised to $32

Dollar Tree (DLTR) reported Q4 FY 2020 earnings of $2.13 per share (versus $1.79 per share in Q4 FY 2019), slightly beating analysts’ consensus estimate of $2.12 per share.

The company’s quarterly revenues amounted to $6.768 bln (+7.2% y/y), roughly in line with analysts’ consensus estimate of $6.784 bln.

DLTR fell to $95.89 (-3.09%) in pre-market trading.

Nordstrom (JWN) reported Q4 FY 2020 earnings of $0.21 per share (versus $1.23 per share in Q4 FY 2019), missing analysts’ consensus estimate of $0.23 per share.

The company’s quarterly revenues amounted to $3.551 bln (-20.0% y/y), missing analysts’ consensus estimate of $3.589 bln.

JWN closed Tuesday's trading session at $37.58 (-1.03%).

Hewlett-Packard Enterprise (HPE) reported Q1 FY 2021 earnings of $0.52 per share (versus $0.44 per share in Q1 FY 2020), beating analysts’ consensus estimate of $0.41 per share.

The company’s quarterly revenues amounted to $6.833 bln (-1.7% y/y), beating analysts’ consensus estimate of $6.747 bln.

The company also issued upside guidance for Q2 FY 2021, projecting EPS of $0.38-0.44 versus analysts’ consensus estimate of $0.38.

For the full FY 2021, the company guided EPS of $1.70-1.88 versus analysts’ consensus estimate of $1.68.

HPE traded at $14.50 (0.00%) in pre-market trading.