A fresh month and news that China's factory activity expanded at its fastest pace in more than a decade is boosting risk appetite
U.S. stock futures rose on Wednesday as traders began the new month on a more optimistic note following signs of a recovery in the Chinese economy.
How are stock-index futures trading On Tuesday, the Dow Jones Industrial Average DJIA fell 232 points, or 0.71%, to 32657, the S&P 500 SPX declined 12 points, or 0.3%, to 3970, and the Nasdaq Composite COMP dropped 11 points, or 0.1%, to 11456. The Dow Jones Industrial Average fell 4.2% in February and is now down 1.5% for 2023.
The ending of Hong Kong’s mask mandate also lifted sentiment as it illustrated China’s continuing emergence from its COVID lockdown.The positivity fed into U.S. index futures, which were bouncing back after a tough February, when worries that stubborn inflation would encourage central banks to keep raising interest rates pushed the S&P 500 down 2.6% and forced 2-year Treasury yields to their highest since 2008.
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