Dow Jones futures were little changed Tuesday night, along with S&P 500 futures and Nasdaq futures, as weak Chinese economic data offset a late boost from a Microsoft stock buyback. The stock market rally on Tuesday once again opened higher but then faded, continuing a recent bearish trend. Apple (AAPL) fell as it unveiled the iPhone 13 and other new products.
Microsoft (MSFT) late Tuesday announced an 11% quarterly dividend hike to 62 cents a share. The tech giant also announced a $60 billion Microsoft stock buyback program. MSFT stock rose 1% in overnight trade.
Tech giants and chip stocks are holding up reasonably well. MSFT stock, Applied Materials (AMAT), Entegris (ENTG), KLA Corp. (KLAC) and Advanced Micro Devices (AMD) are worth watching. Microsoft, Applied Materials and AMD stock are trying to bounce from their 50-day or 10-week lines. ENTG stock and KLA cleared buy points, at least intraday, after flashing early…