Stock futures turned slightly lower in early trading Tuesday after the market scored its best session in six weeks a day earlier on rising optimism about a coronavirus vaccine.
Futures on the Dow Jones Industrial Average implied an opening loss of about 100 points, after moving more than 200 points higher in after-hours trading Monday. S&P 500 and Nasdaq 100 futures were also lower.
The overnight action followed a strong rally on Wall Street that saw the Dow and S&P 500 both enjoying their biggest one-day gains since April 6. Investors cheered news that an experimental coronavirus vaccine from Moderna showed promising early signs. The 30-stock Dow jumped more than 900 points, while the S&P 500 closed the day up 3.2%, hitting its highest level since March 6.
Stocks that would benefit from re-opening the economy led the market higher on Monday. Cruise operator Carnival gained 15.2%, while Delta and United Airlines both popped more than 13%.
