Dow futures up nearly 500 points on trade-war timeout
New York (CBS Marketwatch): U.S. stocks were poised to rally on Monday, with Dow futures up close to 500 points after the U.S. and China agreed to call a truce to their trade war over the weekend, triggering relief buying of perceived riskier assets such as equities.
How are the main benchmarks trading?
Dow Jones Industrial Average futures YMZ8, +1.85% soared 489 points, or 2%, to 26,027. S&P 500 futures ESZ8, +1.63% jumped 46.95 points, or 1.7%, to 2,805. Nasdaq-100 futures NQZ8, +2.35% saw even bigger gains, up 168 points, or 2.4%, to 7,117.
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On Friday, the S&P 500 index SPX, +0.82% rose 0.8%, to 2,760.17, while the Nasdaq Composite Index COMP, +0.79% added 0.8% to 7,330.54. The Dow Industrials YMZ8, +1.85% climbed 199.62 points, or 0.8%, to 25,538.46. 1
Both the S&P 500 and the Nasdaq logged their best weekly performance since December 2011, while the blue-chip index posted its strongest week since November 2016.