Stock market news live updates: Stock futures open higher as indices regain more ground after September selloff

Stock futures opened higher Monday evening after a rally during the regular session gave the three major indices a strong start to the week at the tail end of a weak September.

Contracts on the S&P 500 ticked up as overnight trading kicked off, after the index posted its biggest one-day gain in more than two weeks earlier in the day. The rally was broad-based and led by the energy and financials sectors – the laggards for the year to date.

“We’re a little oversold, believe it or not. Last week, we saw some real panic in the stock market. People were really liquidating everything,” Chris Vermeulen, TheTechnicalTraders.com founder and chief market strategist, told Yahoo Finance on Monday. “And I think finally people kind of put aside the pessimism from last week ... now people are kind of stepping back in hoping the market is going to find the bottom here and rally.”

Upbeat remarks from lawmakers over the weekend offered hope that Congress might make a last-minute move to pass further fiscal stimulus legislation before the November elections, driving stocks in the reopening trade higher during and after the regular session Monday. Shares of Planet Fitness, Marriott, American Airlines, and Carnival Cruise Lines each extended gains in late trading.

Still, House Democrats’ forthcoming $2.4 trillion package would leave a chasm between their offer and the around $1 trillion Republican lawmakers have suggested would be their ceiling on a stimulus plan sum. That has left many economists and policy pundits skeptical that a deal could be passed in the near-term – leaving a potential for markets to be disappointed on that front in the coming month.

Elsewhere, market participants on Tuesday will be closely watching the first of three debates ahead of the presidential election, with President Donald Trump set to face former Vice President Joe Biden in Cleveland, Ohio for a 90 minute session starting at 9 p.m. ET. Topics set to be discussed include the records of Trump and Biden, the Supreme Court, Covid-19, the economy, race and civil unrest, and election integrity, the nonpartisan Commission on Presidential Debates announced last week.

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6:11 p.m. ET Monday: Stock futures open higher

Here were the main moves in equity markets, as of 6:11 p.m. ET Monday:

• S&P 500 futures (ES=F): 3,349.25, up 3.25 points or 0.1%
• Dow futures (YM=F): 27,517.00, up 35 points or 0.13%
• Nasdaq futures (NQ=F): 11,394.5, flat

Reprinted from yahoofinance, the copyright all reserved by the original author.

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