Stocks rebounding sharply from two day rout
2018-10-12 10:06:59
Stock futures were strong throughout the early session, leading to a sharp rebound at the open. Though a rebound is not totally unexpected given the sharp selloff of the last two days, whether the market can hold onto its gains is more of a question. The third quarter earnings season kicked off with some of the major banks reporting as companies should see benefits from tax reform, strength in the economy and share buybacks. Oil prices continue to rise and are now up more than 1% in early trading. About 35 minutes into trading, the S&P is up 45 points, the Dow is up 344 points and the…
Stock futures were strong throughout the early session, leading to a sharp rebound at the open. Though a rebound is not totally unexpected given the sharp selloff of the last two days, whether the market can hold onto its gains is more of a question. The third quarter earnings season kicked off with some of the major banks reporting as companies should see benefits from tax reform, strength in the economy and share buybacks. Oil prices continue to rise and are now up more than 1% in early trading. About 35 minutes into trading, the S&P is up 45 points, the Dow is up 344 points and the Nasdaq is up 177 points.