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Stock futures fall after Dow’s 600 point comeback

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Overnight trading Monday saw stock futures fall as markets fail to recover from weeks of losses.

The Dow Jones Industrial Average futures fell 110 points or 0.3%. S&P 500 futures dipped 0.76% and Nasdaq 100 futures dropped 1.3%.

Zoom Video shares popped 6% in extended trading after sharing strong guidance for the second quarterSnap shares fell more than 28% as the company saidIt is preparing to miss revenue and earnings targets for the current quarter, and has warned about a slowdown in hiring.

The moves came as the markets staged a rebound from last week’s steep market sell-off, which saw the Dow hit its first eight-week losing streak since 1923 and the S&P 500 briefly fall into bear market territory on an intraday basis.

The Dow rose 618 points or almost 2% during Monday’s trading session after a week of losses. The S&P 500 rose 1.9% and the Nasdaq Composite gained 1.6%.

Investors were left wondering if the bounce could hold, or if this was just a minor relief rally in the midst of the continuing sell-off.

Liz Young, Sofi’s head of investment strategies said on CNBC’s “Closing bell: Overtime” that this kind of trading environment is where there’s the whipsaw and big ups-and-downs.

JPMorgan led Monday’s gains in bank stocks. jumped 6.2% after the company said it will reach key targets earlier than expectedThe help of rising interest rates. VMware shares surged by nearly 25% following the announcement. Broadcom is reportedly in talks to acquire the clouder service provider.

Monday’s rally in the market was wide-based. It saw positive movements across 11 different sectors led by financials. Sector 3.23% was added and the sector recorded its best day since March 9.

Investors look forward to home sales, and the speech by Jerome Powell, Fed Chairman at Tuesday’s National Center for American Indian Enterprise Development summit. Also, Ralph Lauren and Best Buy are expected to release earnings.

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