U.S. stock index futures rose, indicating a positive start after Tuesday’s tumble, as Joe Biden’s surprise comeback in the race for the Democratic nomination became the latest development to whip up swings in extremely volatile markets.

S&P 500 Index futures expiring in March rose 1.7% as of 9:05 a.m. in London, erasing a loss of as much as 0.7%, after Biden scored wins in nine states, while Bernie Sanders won the biggest prize of the Super Tuesday primaries with a victory in California. Futures on the Nasdaq 100 Index and those on the Dow Jones Industrial Average both gained more than 1.8%.

The contracts pointed to a recovery from losses the previous session, after the 50 basis-point cut by the Federal Reserve failed to ease concerns about an economic downturn.

Source : Bloomberg