Futures are roaring higher
Stock futures are surging on Friday morning at the end of a short, wild week on Wall Street.
Dow futures were up about 218 points near 7:50 a.m. ET, while Nasdaq futures were up nearly 2%, or 80 points, and S&P 500 futures were up abou 29 points.
On Thursday, stocks rebounded from the sell-off on the previous day, together with oil prices that fell to new 13-year lows.
Crude oil was also spiking on Friday. Brent crude, the international benchmark, rose 6% and climbed back above $30 per barrel. West Texas Intermediate crude futures were also up 6%, climbing to as high as $31.32 per barrel after breaching the $30 mark yesterday.
The other big news Thursday was that European Central Bank president Mario Draghi said there were no limits to what would be done to stimulate growth in the region. In the latest policy decision announced yesterday, the bank left its key deposit rate unchanged at -0.30%, following a cut in December.
Additional stimulus measures could be announced as soon as the ECB's next meeting in March.
In US economic data, the preliminary ISM manufacturing PMI for January is due at 9:45 a.m. ET, and existing home sales at 10:00 a.m. Baker Hughes will publish its oil-rig count data after 1 p.m.
More to come ...
- Indian markets could recover on Monday but earnings, global cues will decide the rest of the week, say experts
- Top temples to visit in India you must visit atleast once in a lifetime
- Top 10 adventure sports across India: Where to experience them in 2024
- Market recap: Valuation of 6 of top 10 firms declines by Rs 68,417 cr; Airtel biggest laggard
- West Bengal Elections: Rift among INDIA bloc partners triggers three-cornered intense contests