U.S. stock index futures rose late Sunday, as a series of deals raised hopes that battered stocks would recover after the tech-heavy Nasdaq ended its worst week since March.
As of midnight Eastern, Dow Jones Industrial Average futures YM00, 1.04% were up around 300 points, or 1%, while S&P 500 futures ES00, 1.19% gained 1.2% and Nasdaq-100 futures NQ00, 1.48% surged 1.5%.
Investors appeared to be encouraged Sunday after Gilead reached a $21 billion deal to acquire Immunomedics, Nvidia agreed to a $40 billion deal to buy Arm Holdings from Japan's SoftBank, and Oracle appeared poised to take over TikTok's U.S. operations. Stocks closed up modestly higher Friday, but ended the week sharply lower.
For the week, the Dow DJIA, +0.47% shed 1.7%, while the S&P 500 SPX, +0.05% fell 2.5% and the Nasdaq COMP, -0.60% dropped 4.1%.
Investors are coming into the new week amid dwindling hope of lawmakers striking a deal on new fiscal stimulus.
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