U.S. stock-index futures surged along with European shares on Friday, indicating a rebound for equities following Wall Street’s worst sell-off in 12 weeks.

Contracts on the S&P 500 Index rose 1.7% as of 10:02 a.m. in London, after the underlying index on Thursday fell the most since March 16 on signs of market overheating and worries about a second wave of coronavirus infections. Futures on the Dow Jones Industrial Average jumped 2.1% and those on the Nasdaq 100 Index added 1.4%.

The U.S. benchmark stock index is still 34% above its March low, and the Nasdaq Composite is now up 5.8% for the year. Meanwhile, virus cases have begun to spike again in states including Texas, California and Florida. Treasury Secretary Steven Mnuchin said the U.S. shouldn’t shut down the economy again even if there is another surge.

Source : Bloomberg