“The Craman Countdown” panelists Jack Manley and Simeon Hyman discussed market sentiment and earnings as stocks took a big hit on recession fears on Monday.
Stock futures rose Wednesday morning as Wall Street ended a three-day losing streak.
Dow Jones Industrial Average futures rose more than 300 points, or 0.83%, while Nasdaq Composite and S&P 500 futures rose 1.46% and 1.23%, respectively.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| Me: DJI | Dow Jones Average | 38997.66 | +294.39 |
+0.76% |
| SP500 | S&P 500 | 5240.03 | +53.70 |
+1.04% |
| I:Comp | Nasdaq Composite Index | 16366.854541 | +166.77 |
+1.03% |
The major stock indexes rebounded on Tuesday, a day after fears of a U.S. recession sparked a selloff in global markets, before paring gains near the close. The Dow rose 293.66 points, or 0.76%, while the Nasdaq Composite and S&P 500 closed up 1.03% and 1.04%, respectively.
July jobs report sparks reliable recession indicator
Tuesday’s rally in stocks came after a trading session that was Wall Street’s worst day since 2022. The Dow Jones Industrial Average fell more than 1,000 points by Monday’s close on selling pressure sparked by weak U.S. jobs data and concerns about a slowdown in the world’s largest economy.
Dow Jones Industrial Average
“While Friday’s jobs report was disappointing, it’s not the only worrisome economic indicator, just the latest,” said Greg McBride, chief financial analyst at Bankrate. “Add economic worries to the cacophony of disappointing earnings, weak corporate outlooks, global worries and currency fluctuations, and you’re bound to see some sudden volatility.”
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