U.S. stock futures rose in early morning trading as investors waited for Tuesday’s presidential election between incumbent Donald Trump and former Vice President Joe Biden.
Dow futures rose 309 points. S&P 500 futures and Nasdaq 100 futures both also traded in mildly positive territory.
Stocks rebounded on Monday from a sell-off to end October that was driven by a rise in Covid-19 cases, a breakdown in economic stimulus talks, and uncertainty about the election.
On Monday, the Dow Jones Industrial Average climbed 423 points, or 1.6%. The S&P 500 also registered a gain of 1.23%. The Nasdaq Composite was the relative underperformer, adding just 0.4% as Facebook, Amazon, Apple and Microsoft all closed lower.
“Today’s strong stock market gain was fueled by technical support – a stock market which bounced decisively from its recent lows, a nod to ongoing economic momentum, despite a recent spike in Covid cases,” Jim Paulsen, chief investment strategist at the Leuthold Group, told CNBC. “As the election finally nears, investors who were selling on the rumor