Dow Jones Industrial Average futures were up 716 points, or 3.4%, indicating a gain of more than 700 points at the open. S&P 500 futures were up 3.4%. Nasdaq 100 futures gained 3.6%.
Last week, the major averages posted their third weekly decline in four. The Dow slid 2.7% while the S&P 500 lost 2.1%. The Nasdaq Composite closed last week down 1.7%. Stocks are also deep in bear-market territory as concerns over the coronavirus outbreak have virtually shut down the global economy and have dampened sentiment around corporate profits.
However, weekend figures in Europe showed slower death rates and new infections in the hardest-hit countries, such as Italy and Spain. This has sparked some positive momentum in global equities, with Europe’s Stoxx 600 jumping 2.5% at the open.
