Dow futures rise nearly 200 points as Wall Street looks set to continue Tuesday rally
U.S. stock futures recovered from an earlier dip in overnight trading and pointed to continued gains at the open on Wednesday. Optimism about the reopening of the economy and a possible coronavirus vaccine continued, despite concerns about U.S.-China tensions.
Recent hopes for a return to normal consumer habits has pushed the Dow Jones Industrial Average and S&P 500 to briefly touch key market levels for the first time since early March; however, a escalation of U.S.-Chinese tensions has capped gains.
Dow futures rose 183 points, pointing to an implied Wednesday opening gain of about 242 points. The S&P 500 and Nasdaq futures also pointed to modest gains at the Wednesday open.
Stocks started the holiday-shortened week off strong. On Tuesday, the Dow Jones Industrial Average climbed more than 500 points, or 2.2%. The 30-stock average briefly traded above 25,000, a level not seen since early March.
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[Source: CNBC News]