Dow Jones Today, Futures Aim For Rebound As Oil, Bond Yields Ease;

Stock futures set up for a modest early bounce Wednesday, as investors kept a wary eye on federal deadlines approaching in Washington. Gap and Dollar Tree led early gains among retail stocks. Chip stocks were mixed as Micron Technology fell on weak guidance. Boeing easily paced the Dow Jones today, on an analyst upgrade to the travel-sector outlook.

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Dow Jones futures climbed 0.4%, after taking a 1.6% dive on Tuesday. S&P 500 futures traded 0.5% above fair value. Nasdaq 100 futures also climbed 0.6% in the stock market today, aiming to take back some of Tuesday’s 2.9% drop as the market heads into the final two days of September and of the third quarter.

Retailers ran at the head of early trade. Gap (GPS) topped the S&P 500, rallying 3.7% as it moved toward a third straight advance. Shares are poised to break above their 21-day exponential moving average within a four-month downtrend.

Discount retailer Dollar Tree (DLTR) led the Nasdaq 100, rising 2.6%. The company announced late Tuesday plans to begin raising prices above $1 across its nearly 16,000-store chain. Also on the Nasdaq 100, vaccine-maker Moderna (MRNA) bounced 1.5% as it attempts to stem a three-day slide.

Small caps ran slightly ahead of the early action, with Russell 200 futures clocking a 0.7% gain. At the head of the index, steel processor Worthington Industries (WOR) rallied 7.7%. The Columbus, Ohio-based company reported a strong fiscal first-quarter earnings beat and above-forecasts revenue.

Chips Mixed After Micron Q4

Micron Technology (MU) slumped to the bottom of the Nasdaq 100, down 3.6%. The chipmaker beat Wall Street revenue and earnings targets for its fiscal fourth quarter, but Q1 guidance came in well below expectations.

Despite Micron’s losses, several chip stocks were indicated higher, with Nvidia (NVDA), Applied Materials (AMAT) and Advanced Micro Devices (AMD) up 1% or more in early trade. In the Dow Jones today, Intel (INTC) added 0.9%.

The iShares Semiconductor ETF (SOXX) gained 0.7% ahead of the open.

Oil producer EQT (EQT) tumbled 5.3% to the bottom of the S&P 500, as investors reacted to an offering of more than 25 million shares announced late Tuesday.

Some leaders sidestepped a tough day for growth stocks on Tuesday. Among those, Sea Limited (SE) and Jefferies Financial (JEF) were rising near buy zones early Wednesday.

Dow Jones Today: Boeing Upgrade, Salesforce Buy Point

Boeing (BA) led the Dow Jones today, rallying 3% as Bernstein upgraded the stock to outperform, from market perform, and raised its price target from 252 to 279. The note raised ratings across much of the aerospace sector, as upgraded traffic forecasts point to an “inflection point for global travel.”

Salesforce.com (CRM) gained 1% in early action. The big consumer relationship management software player dropped 4.6% on Monday, cutting back below a 284.60 buy point in what IBD MarketSmith analysis identifies as a 55-week cup base. One could also read the chart as a