Dow Jones Futures Fall, Yields Jump After S&P 500 Hits High; Astera, GE Vernova, Arista Lead Buys -- IBD

By Ed Carson Dow Jones futures fell modestly early Wednesday, along with S&P 500 futures and Nasdaq futures as Treasury yields rose. The stock market rally continued to advance Tuesday with the S&P 500 hitting a new high, joining the Nasdaq composite, as yields declined. The major indexes did pare intraday gains, while small caps fell. Astera Labs, GE Vernova, Caterpillar, Bloom Energy, Arista Networks and Quanta Services. But biotechs tumbled, including Moderna, with testing firms such as Guardant Health, 10x Genomics and Tempus AI suffering ugly reversals. Guardant Health stock is on Leaderboard. GE Vernova stock, Arista Networks and Bloom Energy are on SwingTrader. Guardant Health, Arista Networks and Bloom Energy stock are on the IBD 50. Arista Networks is on IBD Sector Leaders. DOW JONES FUTURES TODAY Dow Jones futures fell 0.6%. S&P 500 futures lost 0.35% and Nasdaq-100 futures declined 0.7%. The 10-year Treasury yield rose several basis points to 5.33%, back near 24-year highs. European sovereign debt yields rose, with French bond yields surging. Crude oil futures rose slightly. Remember that overnight action in Dow futures and elsewhere doesn't necessarily transla