Stock futures climb overnight as Wall Street closes for Bush memorial.
U.S. stock futures rebounded in overnight trading, recouping slightly from a brutal decline during the Tuesday session.
The major futures benchmarks rose across the board Wednesday. The Dow Jones futures contract climbed 110 points to close at 25,156.00. S&P 500 mini futures contracts added 16.25 points to end at 2,718.00. Nasdaq 100 futures gained 45 points to 6,848.25.
The Nasdaq and New York Stock Exchange were closed on Wednesday in a national day of mourning following the death of former President George H.W. Bush.
U.S. stocks are coming off one of their worst selloffs of the year Tuesday, as a cocktail of trade and political risks weighed on investors’ sentiment. The blue-chip Dow Jones Industrial Average plunged 800 points during the session.
A measure of implied volatility known as the CBOE VIX (NYSEARCA:VXX) closed at 20.74 on Tuesday, having gained a whopping 26.2%. The so-called “fear index” was up 30% earlier in the day.
Global equity markets followed in Wall Street’s lead on Wednesday. The Eurozone’s benchmark Euro Stoxx 50 Pr fell 2.1% to 3,150.27. The FTSE 100 Index in London declined 1.4% to 6,921.84. Germany’s DAX 30 closed down 1.2% at 11,200.24.
The Final Word: Investors can expect a highly active second half of the week filled with economic data and trade speculation. The U.S. Department of Labor will release the closely-watched nonfarm payrolls report on Friday, which is expected to show another solid month of hiring for the world’s largest economy.