Stock futures pointed to a pullback at the open Wednesday following Tuesday’s historic rally in anticipation of a coronavirus stimulus deal by Congress.Posted on March 25, 2020
The action in the futures market followed an epic comeback on Wall Street. The Dow soared more than 2,100 points, or over 11%, notching its biggest one-day percentage gain since 1933 and its best point increase ever. The S&P 500 rallied 9.4% for its best day since October 2008.
White House and Senate leaders agreed to a massive $2 trillion coronavirus stimulus bill in the middle of the night.
Despite the stimulus, some investors think the number of global coronavirus cases needs to improve before the market can form a bottom.
Futures fell following a record spike in coronavirus deaths in Spain, with 504 reported just for Tuesday. Globally, more than 400,000 cases have been confirmed, according to data from Johns Hopkins University. In the U.S., more than 55,000 cases have been confirmed along with over 69,000 in Italy.