Stocks continue recovery from recent plunge; Dow rises 410

Stocks continue recovery from recent plunge; Dow rises 410

On Tuesday, U.S. stock futures signaled towards a lower open for Wall Street, after two sessions of gains that helped investors somewhat forget about the possibility of a deeper market correction taking place.

The movements seen in USA futures come on the back of a strong finish Monday, when the Dow Jones industrial average closing up more than 400 points.

USA stock-index futures extended gains, hitting a session high in early London trading as investors await a key inflation report Wednesday.

Technology and industrial companies and retailers were leading the market higher Monday.

The Nasdaq jumped 107.47 (+1.56 percent) to close at 6,981.96, while the S&P 500 finished trading at 2,656.00, up 36.45 (+1.39 percent) for the day. The Dow climbed 410.37 points, or 1.7 percent, to 24,601.27. Jim Paulsen, chief investment strategist for the Leuthold Group, said he thinks stocks and bonds will fall further as investors consider the likelihood that interest rates will keep rising and inflation will increase.

US investors have been torn between enthusiasm for the tax cut passed by Congress previous year that could provide a stimulus to an economy already at full employment, and growing fears that interest rates will jump as the federal government borrows big to cover its growing deficits.

Tutu quits as ambassador for Oxfam over charity's sex scandal
In an open letter, Roland Van Hauwermeiren, 68, denied that a reception he hosted in Haiti was, as alleged, a sex party. On Sunday, the charity was hit with similar allegations saying that Oxfam staff had paid women for sex in Chad in 2006.

The Dow Jones average, which soared 330 points on Friday to close at 24,191, was expected to open at around 24,487.

That comes after a remarkably calm year for stocks: there were only eight days in 2017 where the S&P 500 rose or fell at least 1 percent. The S&P has lost about 10 percent and $2.5 trillion in value since late January. Last Friday, trade closed higher and all of the three major indexes closed the week over 5% down. A drop of that size is known on Wall Street as a market "correction". The Trump administration has been pushing defense spending aggressively higher.

After huge gains in the first weeks of this year, stocks tumbled Friday after the Labor Department said workers' wages grew at a fast rate in January.

Twenty-First Century Fox picked up 66 cents, or 1.9 percent, to $36.40 after The Wall Street Journal reported that cable and Internet provider Comcast is still interested in buying Fox's entertainment divisions and could make another offer.

Bond prices were little changed. He also said his firm raised its 2018 forecast on the 10-year yield to a range of 3-to-3.5 percent. Silver jumped 43 cents, or 2.7 percent, to $16.57 an ounce. Heating oil fell 2 cents to $1.84 a gallon. Hong Kong's Hang Seng index added 1.4 per cent to 29,884.06 and the Shanghai Composite Index advanced 1.0 per cent to 3,185.86. The euro rose to $1.2284 from $1.2231.

Germany's DAX shed 0.4 per cent to 12,239 and the CAC 40 of France fell 0.3 per cent to 5,122.

Related Articles

  • IOS 12 will finally make 'Peace' with customers

    IOS 12 will finally make 'Peace' with customers

    In other words, Sinofsky says , what's happening at Apple is a natural reaction to the balance a giant project like iOS needs. Early reports of Apple's more conservative approach to furnishing the iOS 12 software update are now being fleshed out.
    Iraq seeks $88.2 billion for post-IS reconstruction

    Iraq seeks $88.2 billion for post-IS reconstruction

    However, the figure would be far shy of Iraq's estimates for funds needed to press ahead with post-Daesh reconstruction efforts. It will cost nearly $90bn (£65.1bn) to rebuild war-torn Iraq after three years of bitter fighting with Islamic State (Isis).
    Sky secure Premier League rights with £3.6billion package

    Sky secure Premier League rights with £3.6billion package

    It said it will show "Saturday tea time matches, Super Sunday, Monday Night Football and Friday Night Football". Premier League executive chairman Richard Scudamore said that "both broadcasters are fantastic partners".
  • Why the Millennium Falcon Looks Different in Solo

    Why the Millennium Falcon Looks Different in Solo

    For Han, some aspects of his Solo outfit are rather familiar, while others we're seeing for the first time. These new images also provide us with our best look yet at the Imperial Range trooper yet.
    Nokia Secures 11 Position in Smartphone Brands Globally

    Nokia Secures 11 Position in Smartphone Brands Globally

    On the front, the Nokia 8 has a 13-megapixel camera sensor with an f/2.0 aperture, PDAF-supported, 78.4-degree wide-angle lens. The smartphone has 64GB onboard storage that is expandable via microSD card (up to 256GB) in a hybrid dual-SIM configuration.
    Slovenia beats U.S.  in men's hockey on first day

    Slovenia beats U.S. in men's hockey on first day

    Many spent stints in the NHL - five games here, 10 more there - before turning to a journeyman career in European leagues. After goals from Brian O'Neill and Jordan Greenway, the Americans took a 2-0 lead into the third period.
  • Bill, Melinda Gates voice concerns over Trump's

    Bill, Melinda Gates voice concerns over Trump's "America First" view

    They expanded on some of those themes and fielded questions about other topics in the recent interview. To a lesser degree, the foundation also works to improve the US educational system.
    Bowman, No. 88 on pole

    Bowman, No. 88 on pole

    He got his assignments turned in early before traveling to Daytona International Speedway for pole qualifying. We'll see if the change produces a better product, but it seems like it will be beneficial to most drivers.
    Xiaomi Launches

    Xiaomi Launches "World's Thinnest" 4K LED Television in India at Rs.39999

    It has the same release date as the Redmi Note 5 - February 22 - and will also be available via Flipkart , Mi Home, and Mi.com. On the front is a 20-megapixel Sony IMX376 sensor with f/2.2 aperture, AI-based Beautify 4.0 and LED selfie-light.
  • US Olympian suffers horror crash in Luge event

    US Olympian suffers horror crash in Luge event

    The 24-year-old, who is competing in her first Olympics, was initially diagnosed with bumps and bruises. Speaking to NBC before going to hospital, Sweeney said: "I'm very sore, and pretty stiff".
    Facebook Losing Young Users to Snapchat at Fast Pace

    Facebook Losing Young Users to Snapchat at Fast Pace

    Snapchat will get log-ins from 43% of United Kingdom social networkers in 2018, more than double the number three years ago. Snapchat's popularity with teens and young adults has grown significantly since the platform first launched in 2011.
    Barrack and Michelle Obama's portraits revealed at National Portrait Gallery

    Barrack and Michelle Obama's portraits revealed at National Portrait Gallery

    President Obama is set against a riot of greenery that, according to the artist, charts "his path on Earth through those plants". Her works stand in direct opposition to prejudice and discrimination while questioning contemporary definitions of identity.