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Futures bounce after four-day sell-off on Wall Street -Breaking

by Mike Robinson

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© Reuters. One person passes the New York Stock Exchange, NYSE, in Manhattan, New York City (USA), March 7, 2022. REUTERS/Andrew Kelly

(Reuters) – U.S. stocks index futures jumped after four sessions of losses on Wall Street. This was because oil prices fell and investors snapped up stocks hampered by Western sanctions on Russia.

Tech-rich countries led the recovery, with 2.06% growth. Amazon.com Inc (NASDAQ) and Apple Inc (NASDAQ), are megacap growth stocks. Microsoft Corp Premarket trading saw a total gain of more than 2% for Alphabet (NASDAQ) Inc, Meta Platforms (NASDAQ) Inc and Tesla (NASDAQ) Inc.

Big banks, including JPMorgan Chase & Co (NYSE:), Bank of America (NYSE:), rose between 2.3% and 2.7%.

Stocks in travel and leisure soared the most. After plummeting this week due to soaring oil prices, Carnival (NYSE:) Corp. and United Airlines Holdings(NASDAQ:) climbed 6.8% & 4.4% respectively.

Russia claimed that it will achieve the goal of Ukraine’s neutrality and prefer to negotiate.

After a rally that saw oil prices rise above $130 per barrel, energy shares fell. The sector gained nearly 3% in this week’s trading. On Wednesday, oil fell to $125 as traders assessed U.S. sanctions against Russian oil imports. [O/R]

6:09 a.m. ET were up 490, or 1.5%. They were also up 70, or 1.68%. Nasdaq 100 E-minis were up 272.75, or 2.06%.

CBOE volatility, which is also called Wall Street’s fear gauge and CBOE, fell for the second session in a row.

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