Dow Futures Climb 300 Points as Fed’s Powell Says Don’t ‘Bet Against American Economy’ – Even as Unemployment Could Rise to 25%

by Mark DeCambre
Market Watch

U.S. stock-index futures pointed to gains for stocks at Monday’s open as Federal Reserve Chairman Jerome Powell said that Americans need to prepare for a tough road ahead in the aftermath of the COVID-19 pandemic but said he wouldn’t bet against the domestic economy’s ability to persevere through the most significant public-health crisis in more than a century.

What are benchmarks doing?

Futures for the Dow Jones Industrial Average rose 283 points, or 1.2%, at 23,800, those for the S&P 500 index were up 33.85 points, or 1.2%, at 2,880.50, while Nasdaq-100 futures were advancing 100.50 points, or 1.1%, at 9,197.

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