U.S. stock futures surge as oil prices sink late Sunday.
Stock-index futures rose sharply Sunday night as investors appeared eager to focus on a glimmer of optimism coming out of the White House about the potential for stabilization of the rapid spread of the worst viral outbreak in generations.
On Friday, the Dow DJIA, -1.68% was 360.91 points, 1.7%, lower to end at 21,052.53, while the S&P 500 SPX, -1.51% lost 38.25 points, or 1.5%, to close at 2,488.65. The Nasdaq Composite Index COMP, -1.52% lost 114.23 points, or 1.5%, to end at 7,373.08. What’s driving the market? President Donald Trump adopted a somewhat sanguine tone during a Sunday news briefing that may have given some investors cause for hope, even as he warned, along with experts, that the days and weeks ahead may be some of the toughest in the pandemic era.
Vice President Mike Pence said “we’re starting to see glimmers of progress,” referring to efforts to slow the spread of the deadly pathogen that has infected more 1.3 million people and claimed nearly 70,000 lives worldwide. In the U.S., some 330,000 have become infected with the illness, which has shut down swaths of the economy here and elsewhere in the world.
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