Fast forward to today, when the market is about 66% higher, and on Tuesday morning futures on both the S&P 500 and the Dow Jones edged higher hitting fresh all time highs – the Dow notched its sixth consecutive all-time high on Monday on optimism over a $1.9 trillion fiscal stimulus package – for the second day in a row while contracts on the Nasdaq 100 rose about 0.5% by 730 a.m. ET, pointing to an extension of a rebound in technology stocks that were at the heart of February’s selloff. The Nasdaq 100 is still about 5% below its Feb. 12 record closing high. Traders were looking ahead to today’s industrial production and retail sales data (which as a reminder, will be a huge miss), while the Federal Reserve was set to kick off its two-day policy meeting.
Europe’s Stoxx 600 Europe rose 0.5% with autos, financial services and banking sectors the strongest performers after data showed investor confidence in Germany’s economic recovery improved after the government laid out a path toward ending coronavirus lockdowns.