Dow set to jump 250 points at the open as Wall Street tries to come back from last week's losses
Sam Meredith | @smeredith19
Published 1 Hour Ago Updated 2 Mins Ago
CNBC.com
U.S. stock index futures pointed to a sharply higher open Monday as Wall Street tries to regain its footing, though concerns over corporate earnings and global growth linger.
At around 7:30 a.m. ET, Dow Jones Industrial Average futures indicated a gain of 253.69 points at the open. Futures on the S&P 500 and Nasdaq 100 also pointed to solid gains at the open.
The Dow dropped 3 percent last week, which was capped off by a decline of nearly 300 points on Friday. The S&P 500 and Nasdaq Composite dropped 3.9 percent and 3.8 percent, respectively.
The moves in premarket trade followed renewed fears about China's slowing economy, after the Asian giant's blue-chip index slumped over 3.3 percent. Chinese economic data, released over the weekend, exacerbated concerns of a cooling economy as profit growth at its industrial firms slowed for a fifth straight month in September.
On the U.S. data front, personal income and consumer spending figures for September are scheduled to be published at around 8:30 a.m. ET. Later in the session, Dallas Fed manufacturing data for October is set to be released.
In corporate news, investors are likely to monitor a flurry of earnings reports. Essex Property Trust, Weatherford International and Bloomin' Brands are all set to release their latest quarterly figures before the opening bell.
Meanwhile, Mondelez International, AvalonBay, and UDR are expected to report earnings results after Monday's close.