U.S. Stock Futures Rebound From Last Week’s Sharp Falls

US stocks

After last week’s sharp declines, U.S. stock futures indicated gains and rebounded on Monday’s trading day.

S&P 500 contracts for March climbed 15.50 points, or 0.6 percent, after falling on its worst since the financial crisis.

Dow Jones Industrial Average rose 141 points, or 0.6 percent, while the Nasdaq 100 Index added 26 points, or 0.4 percent.

The Dow futures’ advance implied a rise of more than 100 points when Wall Street opens for trading on Monday.

Last week, the Dow and S&P 500 went down around 5.2 percent each, as the Dow posted two 1000-point drops, while the NASDAQ slid 5.1 percent.

Shares boosted on the final hours on Friday, bouncing from a much-watched technical level, the 200-day moving average on the S&P 500. Prior to this, the the steep losses rattled investors and the equity benchmark down more than 10 percent from its January 26 record high, stripping off January gains and pulling stocks roughly where they were at Thanksgiving.

Chris Zaccarelli, chief investment officer of the Independent Advisor Alliance based in Charlotte, North Carolina, said Friday “I didn’t have a lot of people saying ‘Oh my god, this is crazy,’ so I’m assuming they felt the same way I did, which was: ‘wow’.” He further added, “I’ll be 100 percent honest, I expected a drop of this magnitude in terms of percent drop, but I expected it to take place over a couple weeks.”

FAQs

Leave a Reply

Your email address will not be published. Required fields are marked *