FILE PHOTO: A nearly empty trading floor is seen as preparations are made for the return to trading at the New York Stock Exchange in New York, U.S., May 22, 2020. REUTERS/Brendan McDermid
Worries over rising coronavirus cases and waning hopes of more fiscal stimulus have led to a spike in market volatility in the past few weeks, and analysts expect trading to remain choppy in the run up to the Nov. 3 presidential election. “Traders tend to gravitate toward those groups that are most oversold because they have the greatest upside potential,” said Sam Stovall, chief investment strategist at CFRA in New York, referring to banks and travel-related stocks.
At 8:37 a.m. ET, Dow e-minis were up 372 points, or 1.38%, S&P 500 e-minis were up 47.5 points, or 1.44%, and Nasdaq 100 e-minis were up 213.5 points, or 1.92%.