Investing.com – U.S. futures surged on Monday as markets looked to rebound from last week’s lows.
The S&P 500 futures rose 28 points or 1.08% to 2,647.25 as of 6:39 AM ET (11:54 GMT) while Dow futures increased 269 points or 1.10% to 24,436.0. Meanwhile tech heavy Nasdaq 100 futures was up 66 points or 1.03% to 6,484.0.
The Dow bounced back on Friday, closing up over 300 points after the stock markets worst week in nearly two years. Investors are still on edge, as the Dow and S&P ended the week down 5.2% amid rising inflation concerns.
Traders will be looking closely to the bond market during the trading session. The yield on the benchmark 10-year Treasury rose to 2.878%, levels not seen since 2014. As bond yields rise, prices fall.
Eastman Kodak Co (NYSE:KODK) was among the biggest gainers in pre-market trading, rising 8.33% while pharmaceutical firm Teva Pharma Industries Ltd ADR (NYSE:TEVA) increased 1.32%. Meanwhile semiconductor Micron Technology Inc (NASDAQ:MU) was up 2.40% and Twitter gained 1.68% while bank Banco Santander (MC:SAN) SA ADR (NYSE:SAN) inched up 1.19%.
Elsewhere Barnes & Noble (NYSE:BKS) fell 1.03%, as it continued to fall after announcing lackluster holiday sales last week. Meanwhile Semiconductor Manufacturing (NYSE:SMI) was down 5.96% while La Jolla Pharmaceutical Co (NASDAQ:LJPC) slipped 1.57%.
Investors will also be looking ahead to a flurry of earnings news, with Brighthouse Financial Inc (NASDAQ:BHF), FMC Corporation (NYSE:FMC) and Restaurant Brands International Inc (NYSE:QSR) just some of the companies expected to report their fourth quarter financial results.
In other news, U.S. President Donald Trump is expected to release his 2019 Budget to Congress on Monday, which includes more than $200 billion for infrastructure and border security.
In Europe stocks rallied. Germany’s DAX rose 219 points or 1.81% while in France the CAC 40 increased 73 points or 1.46% and in London, the FTSE 100 was up 86 points or 1.22%. Meanwhile the pan-European Euro Stoxx 50 gained 65 points or 1.97% while Spain’s IBEX 35 jumped 150 points or 1.56%.
In commodities, gold futures rose 0.48% to $1,321.90 a troy ounce while crude oil futures were up 1.72% to $60.22 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, inched down 0.13% to 90.10.