U.S. equity futures staged a rebound after the worst two-day slump since February as technical levels continued to exert outsize influence on the stock market.
December contracts on the S&P 500 Index climbed as much as 1.4 percent, compared with the cash market’s 2.1 percent decline. Futures on the Nasdaq 100 gained 1.5 percent, while contracts on the Dow Jones Industrial Average climbed 0.9 percent.
In Europe, the Stoxx 600 Index jumped as much as 1 percent, the highest intraday raise since late July, with all the subgroups in green. Basic resources shares led gains in Europe.
The rally in futures comes after U.S. Treasury Department’s staff advised Steven Mnuchin that China isn’t manipulating the yuan as the Trump administration prepares to issue a closely watched report on foreign currencies, according to two people familiar with the matter.