The Dow is set to open flat following 11% surge as White House, Senate reach deal on stimulus
Stock futures pointed to a pullback at the open Wednesday following Tuesday’s historic rally in anticipation of a coronavirus stimulus deal by Congress. The White House and Senate reached an agreement overnight.
Around 8:19 a.m. ET, futures on the Dow Jones Industrial Average were flat after briefly falling more than 200 points. S&P 500 and Nasdaq 100 futures were down 0.8% and 0.9%, respectively.
The action in the futures market followed an epic comeback on Wall Street. The Dow soared more than 2,100 points, or over 11%, notching its biggest one-day percentage gain since 1933 and its best point increase ever. The S&P 500 rallied 9.4% for its best day since October 2008.
White House and Senate leaders agreed to a massive $2 trillion coronavirus stimulus bill in the middle of the night.
“At last we have a deal,” Republican Senate Majority Leader Mitch McConnell said around 1:37 …continued .
[Source: CNBC News]