Categories: Market Overview

Futures rise at end of dismal first quarter

U.S. stock index futures rose on Tuesday at the end of one of Wall Street’s worst first quarters on record, as an unexpected expansion in Chinese factory activity raised hopes of a more stable economic recovery from the coronavirus pandemic.

A rebound in oil prices from 18-year lows after the United States and Russia agreed to discuss stabilizing energy markets helped lift shares of Exxon Mobil and Chevron about 4% in light premarket trading.

Cruise operators and airlines — among the most battered stocks as the corornavirus outbreak brought global travel to a standstill this month — also rose between 6% and 9%.

China’s official manufacturing purchasing managers’ index (PMI) bounced to 52.0 in March, up from a record-low 35.7 in February, but analysts cautioned that a durable near-term recovery is far from assured as the global coronavirus crisis knocks foreign demand. At 05:46 a.m. ET, Dow e-minis were up 122 points, or 0.55%, S&P 500 e-minis were up 14.5 points, or 0.56% and Nasdaq 100 e-minis were up 76 points, or 0.97%.

SPDR S&P 500 ETFs were up 0.46%. The S&P 500 index closed up 3.35% at 2,626.65​ on Monday. Despite the recent rally, the slump from the mid February record highs has set the Dow Jones .DJI on course for its worst first quarter ever, while the S&P 500 is on track for its worst since 1938. The tech-heavy Nasdaq is set to close out its worst first three months of the year since 2008.

Futures rise at end of dismal first quarter, Reuters, Mar 31

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

2 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

2 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

2 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

3 days ago

EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…

3 days ago

This website uses cookies