Stock futures rose in overnight trading Monday following a brutal week as investors assessed a more aggressive Federal Reserve and rising chances of a recession.
Futures on the Dow Jones Industrial Average jumped 433 points, or 1.45%. S&P 500 futures climbed 1.67% and Nasdaq 100 futures also rose 1.7%. U.S. stock markets were closed earlier Monday for Juneteenth.
The major averages just suffered their 10th losing week in 11 on fears that the central bank will hike rates aggressively to tame inflation at the risk of causing an economic downturn. The S&P 500 dropped 5.8% last week for its biggest weekly loss since March 2020, dipping deeper into bear market territory. The equity benchmark is now more than 23% off its record high from early January.
The blue-chip Dow slid 4.8% last week, falling below 30,000 for the first time since January 2021 last week. The tech-heavy Nasdaq Composite slipped 4.8% last week, down 33% from its record high.
Futures on the Dow Jones Industrial Average jumped 433 points, or 1.45%. S&P 500 futures climbed 1.67% and Nasdaq 100 futures also rose 1.7%. U.S. stock markets were closed earlier Monday for Juneteenth.
The major averages just suffered their 10th losing week in 11 on fears that the central bank will hike rates aggressively to tame inflation at the risk of causing an economic downturn. The S&P 500 dropped 5.8% last week for its biggest weekly loss since March 2020, dipping deeper into bear market territory. The equity benchmark is now more than 23% off its record high from early January.
The blue-chip Dow slid 4.8% last week, falling below 30,000 for the first time since January 2021 last week. The tech-heavy Nasdaq Composite slipped 4.8% last week, down 33% from its record high.