Markets have been 'jittery' for a very long time: Jack Manley
'The Claman Countdown' panelists Jack Manley and Simeon Hyman discuss market sentiment and earnings as stocks take a major hit amid recession fears Monday.
Stock futures were higher on Wednesday morning after Wall Street ended its three-day losing streak.
Dow Jones Industrial Average futures rose more than 300 points, or 0.83%, while Nasdaq Composite and S&P 500 futures were up 1.46% and 1.23%, respectively.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38997.66 | +294.39 | +0.76% |
| SP500 | S&P 500 | 5240.03 | +53.70 | +1.04% |
| I:COMP | NASDAQ COMPOSITE INDEX | 16366.854541 | +166.77 | +1.03% |
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The major indexes rebounded on Tuesday – paring some gains near the close – a day after U.S. recession fears triggered a global market sell-off that led Wall Street to experience its worst day since 2022. The Dow closed 293.66 points, or 0.76%, higher, while the Nasdaq Composite and S&P 500 finished up 1.03% and 1.04%, respectively.
THE JULY JOBS REPORT JUST TRIGGERED A RELIABLE RECESSION INDICATOR
Tuesday’s gains followed a trading session that saw Wall Street experience its worst day since 2022. The Dow shed more than 1,000 points at Monday’s closing bell as part of a global market sell-off that was sparked by weak U.S. jobs data and concerns of a slowing of the world’s largest economy.
Dow Jones Industrial Average
"While Friday’s employment report was disappointing, it wasn’t the only worrisome economic indicator, only the latest," said Greg McBride, Bankrate's chief financial analyst. "Couple economic concerns with the cacophony of earnings disappointments and weak corporate outlooks, global unrest, and currency gyrations, and you have the recipe for sudden volatility."
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