Dow futures shoot up 200 points as U.S. crude rallies [MarketWatch]
Meta Platforms, Inc. - Class A (FB)
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Source: MarketWatch
U.S. stock index futures shot higher Tuesday night as U.S. crude prices rallied. Dow Jones Industrial Average futures were last up 200 points, or 0.8%, while S&P 500 futures and Nasdaq-100 futures each gained more than 1%. Meanwhile, June West Texas Intermediate crude , which closed 3% lower Tuesday, jumped around 15% in electronic trading Tuesday night, to just above $14 a barrel. U.S. stocks closed lower Tuesday, squandering early gains, as tech stocks took a hit ahead of earnings reports. Wednesday is one of the busiest days of earnings seasons, with Facebook, Tesla and Boeing, among others, reporting. Investors are also looking forward to comments Wednesday by Fed Chairman Jerome Powell, who is scheduled to speak as the Fed wraps up two days of meetings. While no major moves by the Fed are expected, Powell is expected to give a message that the central bank has the current crisis under control.
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