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12 Jun 2020 04:25 PM

US equity futures rebounded on Friday morning after Coronavirus infection rates rose in several states, causing stock prices to drop on the previous day.

Dow Jones futures pointed to opening gains of about 600 points, while the S&P 500 and Nasdaq 100 futures indicated a positive opening also.

Meanwhile, the Dow Jones, S%P 500 and Nasdaq indices recorded their biggest one-day losses since mid-March, when they all fell by at least 12%.

Thursday's losses came after data compiled by Johns Hopkins University showed that the number of new coronavirus infections has risen in states such as Arizona, South Carolina and Texas as their lockdown is eased. However, Treasury Secretary Stephen Mnuchin said that the United States cannot close its economy again.

Overall, more than two million cases have been confirmed in the United States, along with more than 100,000 deaths.

Stocks were trading at high levels earlier this week, as investors were buoyed by prospects for an economic recovery as countries eased quarantine measures.

Despite Thursday's sell-off, the S&P 500 and Dow remained more than 37% higher than their bottom on March 23. Most of these gains were driven by stocks that would benefit from the reopening of the economy, including airlines, cruise lines and retailers.

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