Dow futures jump 250 points in overnight trading following the worst tech rout since March
Stocks futures climbed in overnight trading on Monday after technology shares suffered their worst sell-off in more than five months.
Futures on the Dow Jones Industrial Average gained about 250 points, while the S&P 500 futures rose 0.5%. The Nasdaq 100 futures also climbed 0.2%.
Stocks just snapped a five-week winning streak after a big reversal in major technology stocks last week. Steep losses in Amazon, Apple, Microsoft and Facebook — 2020′s market leaders — drove the tech-heavy Nasdaq Composite down 3.3% to suffer its worst week since March 20. The Dow and the S&P 500 fell 1.8% and 2.3% last week, respectively, posting their biggest weekly losses since June.
European Stocks Gain; Pound Hit by Brexit Discord: Markets Wrap
European stocks climbed as analysts speculated the market could be relatively resilient to the tech-led downdraft in the U.S. The pound sank on concern the U.K. is inching closer to a no-deal Brexit.
The Europe Stoxx 600 rose Monday with broad gains led by automakers. Oil extended its retreat below $40 a barrel as a price cut by Saudi Arabia signaled fuel consumption is wavering in key markets. Futures on the S&P 500 Index turned higher. The dollar gained while Treasury yields were little changed.
No comments:
Post a Comment