Stock futures rallied on Tuesday, which was mirror opposite of action seen in futures market early Monday. Futures for the S&P 500 index jumped 48.05 points, or 2.6%, to 1,19.25, while those for the Dow Jones Industrial Average jumped 361 points, or 2.3%, to 16,070. Futures for the Nasdaq 100 index gained 80.25 points, or 2.3%, to 4,082.25. Those gains came on the heels of one of the most volatile sessions in years for Wall Street on Monday, which finished with the S&P 500 and Nasdaq Composite in correction territory. Futures brushed aside a 4% drop for the China’s Shanghai Composite , though Asia trade remained volatile. Oil prices rebounded as well, with October crude up 78 cents, or 2%, to $39.02 a barrel. Other markets also defied losses for China, such as Australia’s ASX 200 index rose 2.3%, and the Hong Kong Hang Seng index gained 1.6%. The Nikkei 225 index dropped just over 4.3% at the open, rebounded 1.6% and was back off another 1% recently.
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From:: Stock Market News