US stocks were poised for a rebound from a three-day rout that has wiped out a healthy chunk of 2024's market gains. Futures tied to the S&P 500 were up 0.9%, while those on the tech-heavy Nasdaq rose 1%. Dow Jones Industrial Average futures rose 0.8%. Stocks got crushed on Monday, part of a two-day tailspin on Wall Street that served as a boisterous reaction to fresh concern over the health of the US economy and its labor market.
On Tuesday, it fell back to earth, to levels seen often in 2022. Some of the market's biggest names also were aiming for a rejuvenation. The "Magnificent 7" stocks lost more than $650 billion in market cap on Monday. On Tuesday, that looked set to change. Nvidia , which led the way down, rose over 3% before the market open. Tesla , Microsoft , and Meta all rose more than 1%. Cryptocurrencies, which weren't spared from the rout, also rose in tandem with the optimism.
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