The rotation between value and tech stocks is taking hold as part of the initial reaction to the bank earnings in the past 20 minutes or so. Wells Fargo and JP Morgan reported hefty beats on earnings while not really showing much signs of stress or credit concerns. That will help to ease the mood further after the banking turmoil last month.
Dow futures have risen as a result, up by 0.2%, while Nasdaq futures are down by 0.5% now ahead of US trading. S&P 500 futures are caught in a bind between the two, keeping flat at the moment.
