Monday’s gains in U.S. stock futures came as Wall Street attempted to offset some of the sharp losses sustained the previous week.
Futures on the Nasdaq 100 increased by about 0.7%, while those on the S&P 500 increased by 0.6%. A 0.2% increase, or 255 points, was seen in futures linked to the Dow Jones Industrial Average.
“We believe that some (modest) dip buying, driven mostly by oversold conditions and monetary support anticipation, is what is driving the rally, rather than any specific news items that have been out since the Friday close,” writes Vital Knowledge’s Adam Crisafulli.
Beginning this first trading week of September, a traditionally difficult month for stocks, the stock market saw significant losses. In its worst week since March 2023, the S&P 500 fell 4.3%.
Source (CNBC)
