After $2 Trillion Wipeout, US Stocks Are Poised for Some Relief

BlackRock Investment Institute Deputy Head Alex Brazier says, “equities don’t look cheap to us,” and explains where his firm sees investment opportunities as “this isn’t the market where you come out, necessarily, into cash.” He speaks on “BloombergMarkets: European Open.”

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By Farah Elbahrawy and Michael Msika

June 16, 2022 at 10:05 PM UTC

Updated on

June 17, 2022 at 11:37 AM UTC

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S&P 500 futures climbed, hinting that the US stock benchmark is set for a relief rally at the end of its worst week since March 2020, which saw it enter a bear market amid growing fears of a recession.

Contracts on the S&P 500 were up 1.1% as of 7:32 a.m. in New York after the underlying gauge erased $2 trillion in market capitalization this week so far. Nasdaq 100 futures rose 1.4% and Dow Jones futures gained 0.8%.