Futures on US financial markets point to opening bump
Friday’s opening rise comes after weeks of unprecedented market volatility.
March 20, 2020, 12:46 PM
2 min read
U.S. financial markets were set to open higher on Friday, possibly on news of government actions taken to help quell investors’ ongoing anxieties over the coronavirus crisis.
Futures on the Dow Jones Industrial Average pointed to an opening jump of approximately 400 points, or around 2%. Futures on the S&P 500 were similarly up, indicating an opening rise of 1%.
Unprecedented volatility has plagued Wall Street for weeks amid the global coronavirus pandemic.
Amid the financial uncertainty, the Federal Reserve has pulled out all the stops to help boost the economy. The Fed announced approximately half a dozen actions it would take — including everything from slashing interest rates and launching a short-term lending facility.
Lawmakers also pledged to quickly approve a $1 trillion COVID-19 economic stimulus package that would send $1,200 checks to Americans making up to $75,000 per year, based on their fiscal year 2020 tax filing.
The coronavirus pandemic has also pushed the Dow, S&P 500 and Nasdaq into bear market territory. All three indices have tumbled roughly 25% from February highs.