U.S. stock indexes surged in early trading Tuesday on hopes an agreement on a stimulus bill to rescue the economy from the coronavirus was close.
Dow Jones Industrial Average futures jumped 930 points, or 5%, to hit so-called limit up levels. S&P 500 futures and Nasdaq futures were also up 5% and “limit up.” The S&P 500 SPDR ETF was up 5.1% in premarket trading.
The Dow dropped 582.05 points, or 3%, to a new three-year low on Monday and remained on pace to clinch its worst calendar month since 1931. The S&P 500 dropped 2.9% to 2,237 and closed 34% below a record set last month as both indexes sank further into bear markets amid the COVID-19 outbreak.
Stocks hardest hit by the shutdowns resulting from the coronavirus led the gains in premarket trading Tuesday. Shares of Wynn and MGM Resorts were up more than 11%. Airlines like Delta jumped more than 10%.
