Dow futures jump more than 200 points, signaling Wall Street rally to continue
Price ActionMacroGeopolitics
Dow futures surged more than 200 points, signaling a continued rebound on Wall Street after yesterday's massive rally. As of 7:56 p.m. Eastern Time, Dow futures were up 229 points, or 0.42%, at 54,497. The Dow closed more than 900 points higher yesterday, with both the Dow and the S&P 500 hitting record highs, buoyed by strong earnings from artificial intelligence-related companies, as well as a plunge in crude oil prices and government bond yields amid hopes for the reopening of the Strait of Hormuz. President Donald Trump said the United States is close to reaching a deal with Iran on reopening the Strait of Hormuz and ensuring maritime security, noting that an agreement could come as early as tomorrow or the next day and that significant progress has been made, but he stressed that the U.S. military will retaliate if talks fail. Investors are also eyeing Friday's nonfarm payrolls report, which is expected to show an increase of 88,000 jobs in July, following a gain of 57,000 in June, with the unemployment rate forecast to hold steady at 4.2%.
