Silvia Amaro, Fred Imbert
Andrew Kelly | Reuters
Dow Jones Industrial Average futures traded 774 points higher, implying a gain of about 802 points at the Monday open. S&P 500 and Nasdaq 100 futures also pointed to robust Monday opening gains for the two indexes. Earlier, futures had pointed to an opening surge of about 900 points for the Dow on Monday.
Last week, the major averages posted their third weekly decline in four. The Dow slid 2.7
However, weekend figures in Europe showed slower death rates and new infections in the hardest-hit countries, such as Italy and Spain. This has sparked some positive momentum in global equities, with Europe’s Stoxx 600 jumping 2.5% at the open.
In oil markets, prices were down by more than 1%, after a key meeting got postponed.
The meeting between OPEC and Russia was scheduled for Monday, but sources familiar with the matter told CNBC it will “likely” take place Thursday. The delay comes after President Donald Trump told CNBC last week he expected both countries to cut production by up to 15 million barrels.
- CNBC’s Eustance Huang contributed to this report.