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Market Update: US Futures Flat after Strong Session
US Futures traded flat in early APAC deals on Tuesday, following gains in the previous session as sentiment was bolstered following a further easing of long term bond yields, while local Covid-19 cases dropped to their lowest level since June. US 10-year bond yields were near 2-week lows of 1.605%. Meantime, the cryptocurrency markets stabilized after Tesla CEO Elon Musk tweeted that he was having active discussions with North American Bitcoin miners regarding the sustainability of digital coins. Still, fears of runaway inflation persist, as Kansas City Federal Reserve President Esther George noted that the Fed needed to be on guard in case the dynamics that have kept inflation low in recent years change as the economy reopens. Market participants will also be focused on US personal consumption data on Thursday. The Dow closed flat at 34393.99, the S&P 500 added 41.19 points or 0.99% to 4197.06 and the Nasdaq Composite lifted 190.18 points or 1.41% to 13661.17. [/s2If]
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