American stocks set to rebound amid growing oil
On Wednesday, shares on Wall Street were set for a slight rebound, with upbeat investing sentiment, powered by oil’s surge and good revenues in the EU ahead of the ECB’s gathering.
The Dow Jones Industrial Average futures closed +33 points at 17,005, while the S&P 500 index traded at 1,984, a 0.2% increase. As for the Nasdaq 100 index futures, there was a 5% soar, at 4,275.50.
Financial analysts stress that US stocks keeps following oil. Growing crude prices are bringing market sentiment higher. Moreover, in the EU, Germany’s DAX 30 index as well as France’s CAC 40 were ascending ahead of the upcoming ECB’s easing. The Stoxx Europe 600 index closed +0.6%.
Crude prices surged to $37.09 or +1.6%, as market participants got down to bargain hunting right after an overnight tumble. On Tuesday, a decrease in crude prices along with worries over China’s prolonged downtime brought American shares down, with the S&P 500 index as well as Dow average boasting a five-session winning streak.
Furthermore, traders were waiting for the latest news from the European Central Bank. The given financial institution is supposed to keep on decreasing its deposit rate.