U.S. Stocks Set for Rebound After Worst Selloff in Four Months

U.S. index futures are pointing to a rebound for equities at the open on Wall Street after concerns over tougher coronavirus-related lockdowns yesterday fueled the S&P 500 Index’s worst decline in more than four months.

S&P 500 contracts expiring in December were up 0.9% as of 8:10 a.m. in London, after earlier rising as much as 1.5%. Futures on the Nasdaq 100 and Dow Jones Industrial Average advanced 1.1% and 0.7% respectively. Stocks tumbled Wednesday amid a surge in Covid-19 hospitalizations, especially in the Midwest, while the lack of a fiscal stimulus deal ahead of next week’s presidential election added to investor pessimism.