Futures Prices Increase Following the S&p 500’s Largest One-day Gain Since 2020

Published on:

Last Updated on November 11, 2022 by Bitfinsider

Futures for equities increased on Friday as China announced it would relax some Covid measures, bolstering confidence from inflation data that was less severe than feared, which fuelled a wide market surge in the previous session.

152 points, or 0.5%, were added to Dow Jones Industrial Average futures. Futures on the S&P 500 increased 0.5%, while futures on the Nasdaq 100 increased 0.7%.

The premarket price of Chinese stocks listed in the United States increased after China announced it will eliminate some Covid restrictions, so reducing the quarantine period for international passengers by two days. Alibaba, Pinduoduo, and JD.com stocks increased by approximately 5%, 5.5%, and 8%, respectively.

On the announcement, several stocks with a large exposure to China rose. In the premarket, shares of casino companies Wynn Resorts and Las Vegas Sands rose more than 4 percent and 3 percent, respectively.

The news bolstered Thursday’s rise, during which the major averages registered their largest single-day gains since 2020. Following a smaller-than-expected increase in consumer prices for the month of October, the Dow soared more than 1,200 points, providing investors hope that inflation may be moderating. The S&P gained 5.5%, while the Nasdaq Composite gained 7.4%.

The 10-year Treasury yield decreased to 3.811% on Thursday as a result of weaker-than-anticipated inflation data. The 2-year yield fell to 4.33 percent.

As long as the threat of considerably higher interest rates is removed, this should eliminate a big barrier for the share market, Barclays’ Emmanuel Cau wrote in a Friday note.

Each index is on track for a profitable week. The Dow is up 4% week-over-week, while the S&P and Nasdaq are projected to gain 4.9% and 6.0%, respectively. The three monthly averages are also projected to be positive.

The release of preliminary University of Michigan consumer sentiment data at 10 a.m. ET is anticipated by investors.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related