Stock futures little changed

During overnight trading on Tuesday, U.S. stock index futures were mostly neutral following the Dow
closed at a record high, as reported by CNBC.
Futures contracts linked to the Dow Jones Industrial Average dropped just 5 points. S&P futures and
Nasdaq 100 futures also traded slightly lower.
Meanwhile, the S&P 500 slipped 0.06% during an unstable period of trading, while the Nasdaq
Composite fell 0.34%. Apple had the most unfavorable time on the tech-heavy index, tumbling 1.6%.
“If you look at any historical norms, valuations are stretched. But we’ve never seen the long bond at
1.3% and so we’re in unchartered waters here so higher P/Es are justified based on lower interest rates.
The other thing is the Fed’s going to be highly accommodative … they’re going to keep interest rates
low, and so you have the wind to your back,” stated Scott Black, founder and president at Delphi
Management.

(Reference: CNBC)