SPX: S&P 500 Futures Jump 1.5% to Erase Losses from Worst Day Since 2022

Emboldened investors scoop up shares left and right after major indexes suffered big losses with Dow falling 1,000 points and Nasdaq washing out 3.5%.

• Stocks across the board were looking to stage a powerful rebound after Monday’s painful selloff wiped out trillions of dollars from companies’ valuations. The Magnificent Seven alone, an elite club of tech giants, shed $653 billion in market cap as investors were struggling to find shelter. The broad-based S&P 500 tumbled 3% on the day for its worst session since September 2022. The tech-heavy Nasdaq Composite did even worse, erasing 3.5%. And the Dow Jones Industrial Average lost 1,000 points, or 2.6%.
• Investors can breathe more easily today as that big, bad storm appears to have been replaced with a cool sunny morning. Futures contracts tied to the major stock averages were all looking bright and fresh on Tuesday. S&P 500 futures were in recovery mode, flashing 1.5% in gains ahead of the opening bell. Futures on the Nasdaq and the Dow were higher by 1.8% and 1%, respectively.
• Fears of recession were behind stocks plunging everywhere after last week’s poor US jobs report suggested a potentially derailing economy. On Monday, Japan’s Nikkei suffered its worst day since the Black Monday of 1987. The broad-based index fell 12.4%. The mayhem spread through continents, hitting European bourses and, apparently, US markets. Crypto assets ​​weren’t spared either. On Tuesday, Japan’s Nikkei soared more than 11% for its best day since 2008.