US stock futures up after Wall Street rally - CNN
- 2 May 2020
New York/Hong Kong (CNN Business)Asia Pacific markets and US stock futures are mostly rising following a rally on Wall Street — a sign that hopes for a coronavirus recovery are continuing to grow.
Australia's S&P/ASX 200 gained 1.5% in early trade Thursday. South Korea's Kospi ( rose 1.4%. Hong Kong's )Hang Seng ( and China's )Shanghai Composite ( each added 0.5%. )
Japan's Nikkei 225 ( was the regional outlier, trading slightly lower. )
Dow ( futures were up 80 points, or about 0.4%. )S&P 500 ( futures were up about 0.3% and )Nasdaq ( futures were up about 0.2%. )
Wall Street rallied Wednesday on rising optimism that the coronavirus spread in hot spot countries is slowing.
The Dow finished up 3.4%, or 780 points, closing above 23,000 points for the first time in nearly a month. The S&P 500 closed 3.4% higher. The Nasdaq ended the day up 2.6%.
Johns Hopkins University changed the trending status for the United States to "down" on Wednesday, because of changes in the five-day moving average of new cases of the coronavirus. The data could change as more cases are reported.
More than 430,000 people in the United States have been infected with coronavirus, and more than 14,700 have died.
Oil prices, meanwhile, are continuing to rise as investors await a meeting between Russia and OPEC to discuss production cuts.
US oil futures jumped 4.3% to trade at $26.17 a barrel, following a 6.2% surge on Wednesday. Brent crude, the world oil benchmark, also traded 2.7% higher at $33.73 a barrel. Prices settled up 3% on Wednesday.
-- Anneken Tappe contributed to this report.