Wall Street, Global Markets Bounce Back On China's Rate Cut
Newsy
Wall Street futures are up slightly Friday morning after a week of heavy losses.
Wall Street pointed toward gains before the opening bell Friday after a surprise interest rate cut from China lowered, at least temporarily, the anxiety over a slowdown in the world's second-largest economy.
Futures for the Dow Industrial Average climbed 1% and the S&P 500 rose 1.2%. Major benchmarks will need much bigger gains by the close to avoid a seventh straight week of losses for markets shaken by rising interest rates, a global pandemic and war in Ukraine.
Shares in Europe and Asia also rose.
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