Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
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* Futures up: Dow 4.35%, S&P 4.49%, Nasdaq 4.61%
By Sanjana Shivdas
March 10 (Reuters) - U.S. stock index futures rose more than
4% on Tuesday, rebounding from a 7% slump a day earlier, as
hopes of coordinated policy action soothed investor nerves over
a global recession fueled by the coronavirus epidemic.
Wall Street logged its biggest one-day percentage fall on
Monday and the Dow Jones .DJI tumbled as much as 2,000 points,
also weighed down by a crash in oil prices following a price war
between Saudi Arabia and Russia.
Sentiment was bolstered overnight after President Donald
Trump promised "major" steps to combat the virus outbreak and
said he would discuss a payroll tax cut with congressional
Republicans. Oil also recouped some losses from its biggest one-day
decline since the Gulf War in 1991, supported by expectations
for a settlement to the price war and potential U.S. output
cuts. O/R
Oil majors Exxon Mobil Corp XOM.N and Chevron Corp CVX.N
climbed more than 7% in premarket trading, while Occidental
Petroleum Corp OXY.N , Apache Corp APA.N and Marathon Oil
Corp MRO.N jumped between 20% and 29%.
At 6:10 a.m. ET, Dow e-minis 1YMcv1 were up 1,038 points,
or 4.35%. S&P 500 e-minis EScv1 were up 123.25 points, or
4.49% and Nasdaq 100 e-minis NQcv1 were up 366.25 points, or
4.61%.