Stock futures rose early Monday, as the market tried to recover some of the losses from a relentless sell-off that has gripped Wall Street.
Futures on the Dow Industrial Average gained 201 points, or 0.6%. S&P 500 futures added 0.8%, and Nasdaq 100 futures rose 0.8%.
Shares of VMWare jumped more than 20% after Bloomberg News and Reuters reported, citing sources, that chipmaker Broadcom is in talks to acquire the cloud services company. Broadcom shares fell 4.3%.
Sentiment appeared to have gotten a boost after President Joe Biden said he was considering reducing tariffs on some products imported from China. “I am considering it,” Biden said. “We did not impose any of those tariffs. They were imposed by the last administration and they’re under consideration.”
The moves came after the S&P 500 on Friday dipped into bear market territory on an intraday basis. While the benchmark was down 20% at one point, it did not close in a bear market after a late-day comeback.
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