How are stock-index futures trading:
S&P 500 futures are up 0.2%.
Dow Jones Industrial Average futures are adding 0.1%.
Nasdaq 100 futures are gaining 0.3%.
On Monday, the Dow Jones Industrial Average rose 61 points, or 0.15%, to 42125, the S&P 500 increased 16 points, or 0.28%, to 5719, and the Nasdaq Composite gained 26 points, or 0.14%, to 17974.
Futures indicate fresh highs for the S&P 500 and Dow Jones Industrial Average after global bourses got a boost from news the People’s Bank of China had unleashed a swathe of stimulus measures designed to revive the world’s second biggest economy and its stock market.
Copper producer Freeport-McMoRan is among the big gainers in premarket action as traders hope a rejuvenated Chinese economy will lift demand for the red metal.
Energy and mining stocks in Europe were advancing on the similar premise of increased demand for industrial commodities, while the CAC 40 in Paris was the region’s best performer as its bevy of luxury goods groups benefited from hopes of more spending by China’s consumers.
“The timing of the move by Beijing suggests that they felt more comfortable unleashing the ‘Big stimulus’ after the Fed started its rate-cutting cycle,” said Kathleen Brooks, research director at XTB.
“This is also good for global risk sentiment since it suggests that China will not be exporting inflation around the world. Thus, today’s measures will not stop central banks from cutting interest rates,” Brooks added.
Read More: Stock Market Today: Dow futures eye new record as bourses boosted by China stimulus