Stocks are setting up for a rebound after Dow plummets 1,000 points, entering correction territory

 

U.S. stock index futures were higher ahead of Friday’s open, as investors kept abreast of the volatile trading seen in markets worldwide.

In the previous session, U.S. stocks finished deep in the red as higher interest rates continued to weigh on sentiment.

 The Dow Jones industrial average finished the session down 1,032.89 points at 23,860.46 — entering correction territory. In addition, investors have been on edge, as developments in the political space surface.

Late Thursday, it became apparent that parts of the U.S. government would be entering a shutdown, after the Senate failed to secure the passing of a spending bill by the midnight deadline.

During Friday’s early hours, however, the Senate managed to pass a short-term funding bill, paving the way to boosting military and domestic spending. The measure then headed to the House, where resistance was expected.

Source: Stocks are setting up for a rebound after Dow plummets 1,000 points, entering correction territory