“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 rebounded on Tuesday, a day after Wall Street experienced its worst day since 2022 as fears of a U.S. recession sparked a global stock market sell-off.
Dow Jones Industrial Average futures rose more than 200 points. Nasdaq Composite and S&P 500 futures rose 0.81% and 0.84%, respectively.
Stock markets ended the previous trading day broadly lower, with the Dow down 1,033.99 points (2.6%) and the Nasdaq Composite and S&P 500 down 3.43% and 3%, respectively. The Dow and S&P 500 both finished with their worst day since September 2022.
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Dow Jones Industrial Average
The Nasdaq 100 and Nasdaq Composite indexes entered a correction last week due to weak employment data from China, the world’s largest economy, declining manufacturing activity and a bleak outlook for big technology companies.
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“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. “When you add economic worries to the cacophony of disappointing earnings, weak corporate outlooks, global worries and currency fluctuations, you’re bound to see some sudden volatility.”
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| Me: DJI | Dow Jones Average | 38703.27 | -1,033.99 |
-2.60% |
| SP500 | S&P 500 | 5186.33 | -160.23 |
-3.00% |
| I:Comp | Nasdaq Composite Index | 16200.081969 | -576.08 |
-3.43% |
Japan’s stock market rebounded on Tuesday, with the Nikkei closing up 10.23% after the index fell 12% on Monday, its worst day since the 1987 Black Monday crash.
Employees at the Nagoya Stock Exchange look at a monitor displaying the Nikkei average stock price on August 5, 2024. (Kyodo News/via Reuters)
In Europe, the Stoxx 600 rose 0.21% on Tuesday, while Britain’s FTSE 100 and Germany’s DAX index also rose.
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