U.S. stock-index futures on Monday were set to climb amid fresh hope of cures for the COVID-19 pandemic and a flurry of potential and announced deals over the weekend, including reports that Oracle may be forging a partnership with TikTok, the popular China-owned social media platform.
How are equity benchmarks performing?
Futures for the Dow Jones Industrial Average YM00, +0.93% YMU20, +0.91% were climbing 272 points, or 1%, at 27,765, those for the S&P 500 index ES00, +1.21% ESU20, +1.20% were advancing 42.70 points at 3,366, a gain of 1.3%, while Nasdaq-100 futures NQ00, +1.36% NQU20, +1.36% rose 167.50 points, or 1.5%, at 11,215.75.
Equities ended Friday trade with the Dow DJIA, +0.47% posting a weekly loss of 1.7%, while the S&P 500 SPX, +0.05% fell 2.5% and the Nasdaq Composite Index COMP, -0.60% dropping 4.1%, to mark its worst weekly drop since the period ended March 20, according to Dow Jones Market Data. Markets were closed Monday for Labor Day.
What’s driving the market?
Equities on Wall Street looked buoyant to start the week as investors drew optimism from a number of public-health and corporate announcements that were being taken as a positive, after a turbulent stretch of trading last week that saw the Nasdaq Composite post its steepest weekly decline since the height of the pandemic-driven selloff in March.