A trader walks in front of the New York Stock Exchange on May 26, 2020 at Wall Street in New York City.
Johannes Eisele | AFP | Getty Images
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7:20 am: Stocks set to jump, Dow to gain more than 200 points
U.S. stock index futures pointed to sharp gains at the open following comments from the White House that the U.S.-China trade deal remains in place. The Dow Jones Industrial Average was set to jump 268 points at the open for a gain of 1%. Futures on the S&P 500 were up 0.9%, while Nasdaq-100 futures gained 0.7%.
Earlier Dow futures had plunged about 400 points after White House trade adviser Peter Navarro said that the deal was “over.” However, futures rebounded after he clarified his comments, saying that they were taken “wildly out of context.” President Donald Trump also weighed in on Twitter, saying the deal is “fully intact.”
Stocks rose during Monday’s session as the market looked toward the economy’s reopening, although a rising number of Covid-19 cases in the U.S. and abroad capped the upside. The Nasdaq was the relative outperformer, and the tech-heavy index closed at a new record high. – Stevens
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