U.S. Stock Futures Indicate Green Start Amid Stimulus Hopes
- S&P 500 plunged 11.5% for worst week in more than a decade
- First American fatality reported as coronavirus spreads
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U.S. index futures indicated a positive start for the week, with contracts rebounding after the Bank of Japan issued an emergency statement to support market stability.. Shares in Europe climbed, oil jumped while the U.S. dollar traded lower.
Following a decline of more than 2% earlier, contracts on the S&P 500 quickly erased the plunge and rallied as much as 2.2%, with investors drawing optimism from the BOJ comment that it will provide “ample liquidity” through market operations and asset purchases. The move came after the Federal Reserve issued an unscheduled statement on Friday, opening the door for a rate cut this month.