Dow Jones today US stock market to see ‘300 point increase’ after worst week in two years

Dow Jones today US stock market to see ‘300 point increase’ after worst week in two years
Dow Jones today US stock market to see ‘300 point increase’ after worst week in two years

THE Dow Jones looks set to have a solid opening today according to the US stock index futures, but investors will be kept on edge despite European stocks rising so far today.

The implied open for the Dow Jones industrial average was called by IG Group at 24,483, a rise of 1.18 percent. S&P 500 and Nasdaq futures have also even tipped for strong gains at the open.

Wall Street rebounded on Friday but that couldn’t stop the Dow from recording its worst week in two years, closing at 24,190.90 – ending the day up 330.44 points, or 1.38 percent.

Cisco Systems and Apple were the best-performing stocks in the Dow, advancing 2.8 percent and 2.4 percent, respectively.

The S&P 500 rallied 1.49 percent to finish at 2,619.55, while the Nasdaq composite added 1.44 percent to close at 6,874.49.

European markets gradually expanded their gains through today, and the prospect of a positive open from the US is set to keep the comeback going this afternoon.

The Eurozone’s indices ignored the euro’s 0.3 percent rise against the dollar, with the DAX surging 1.8 percent and the CAC jumping 1.4 percent as a green calm – however temporary – settled over the markets.

Katie Stockton, founder of Fairlead Strategies said: “This looks like a corrective phase rather than the start of a bear market. The biggest risk to the marker prior to this sell-off was sentiment and we’ve seen that go from overly bullish to overly bearish.”

Conor Campbell from SpreadEx said: “Of course, how the Dow Jones behaves this afternoon will likely dictate whether or not things remain quite so verdant.

“Luckily, at the moment at least, the Dow is facing a near 300 point increase when the bell rings on Wall Street, one that would take the index back above 22450 – for context that’s more than 2000 points down from the all-time highs struck at the end of January.”

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Dow Jones today US stock market to see ‘300 point increase’ after worst week in two years