US Markets

Dow futures soar more than 100 points as rally continues

Dow futures soar more than 250 points as rally continues

U.S. stock index futures posted strong gains ahead of Thursday's open, extending a rally seen in previous sessions. Stocks were poised to open higher despite further gains in Treasury yields.

Dow futures were up 149 points at around 8:30 a.m. ET, indicating a rise of 150.51 points at the open. The Nasdaq 100 and S&P 500 futures also suggested markets would begin trade in the black.

During Wednesday's session, indexes went on a roller-coaster ride, after inflation data rattled investor sentiment.

U.S. Stocks Plunge Heading Into Market Close
Michael Nagle | Bloomberg | Getty Images

Ahead of the Wall Street open Wednesday, U.S. futures reversed gains to trade sharply down, after inflation data came in above market estimates. The consumer price index rose 0.5 percent in January, beating forecasts of a 0.3 percent increase — triggering a sharp reaction from domestic markets and from overseas.

Despite the data — and the subsequent jump in Treasury yields — Wall Street recovered and managed to close sharply higher, with the Dow Jones industrial average closing up more than 250 points.

The benchmark 10-year note yield rose to 2.94 percent, hitting a fresh four-year high.

On the data front Thursday, jobless claims increased by 7,000 to a seasonally adjusted 230,000, rebounding from a near 45-year low. The price producer index, meanwhile, rose 0.4 percent in January, in line with expectations.

Elsewhere, markets overseas were trading higher, while investors will be paying close attention to the bond market. Concerns of rising inflation have recently sent jitters down Wall Street.

Last week, all three major U.S. indexes finished the five-day trading period more than 5 percent down each, with the Dow delivering its worst performance in two years.

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