U.S. futures signal rebound after sharp sell-off

Friday,   19-Oct-2018   03:47 PM (IST)

After the prior session’s sharp sell-off sparked by weak industrial earnings and continued concerns over the outcome of investigations into missing Saudi journalist Jamal Khashoggi, U.S. futures pointed to a slight bounce for Wall Street on Friday ahead of corporate earnings, housing data and appearances from Federal Reserve policy makers.The blue-chip Dow futures gained 56 points, or 0.22%, S&P 500 futures rose 6 points, or 0.21%, while the Nasdaq 100 futures traded up 26 points, or 0.36%.Friday’s recovery will still do little to pare what has been a rough October for stocks. The Dow and S&P 500 have both fallen more than 4% so far this month, with tech stocks showing a larger decline of nearly 7%.Elsewhere, European shares were lower as concerns over Italy’s budget continued to weigh on bank stocks and lack of progress in Brexit negotiations kept investors on edge.Earlier, Asian stocks saw mixed trade with Chinese stocks leading gains. The Shanghai Composite registered its biggest gain in two months despite the weaker-than-expected economic growth as top financial officials voiced support for the battered equity market.