U.S. stock futures bounced Wednesday as the market attempted to recover from April’s technology-led sell-off.
Futures tied to the Dow Jones Industrial Average rose about 200 points, or 0.6%. S&P 500 futures gained 0.3%. Nasdaq 100 futures gained 0.1%, one day after the Nasdaq Composite’s worst day since 2020.
“We remain cautious on rallies here,” BTIG’s Jonathan Krinsky said in a note to clients. “There still hasn’t been a full-scale washout, in our view, and trends remain to the downside. This means small rallies don’t do much other than alleviate short-term oversold conditions.”
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