Futures rebounding from huge sell-off

AP News
Posted: Jun 21, 2013 7:35 AM
Futures rebounding from huge sell-off

NEW YORK (AP) — U.S. stock futures are rising, shaking off a jolt delivered to global markets by the Federal Reserve.

Dow Jones industrial futures are up 93 points to 14,794. S&P futures have added 12.1 points to 1,596. Nasdaq futures are up 17.25 points to 2,897.25.

The S&P slumped 2.5 percent Thursday, its biggest loss since November 2011, and the Dow plunged 356 points after Fed Chairman Ben Bernanke outlined plans to wind down the government's economic stimulus efforts.

There are no economic indicators due Friday, and it appears that many investors think Thursday's sell-off was an overreaction.

Still, Hong Kong's Hang Seng index has not recovered from an uptick in a measure of interbank stress in China, which could signal trouble ahead for the world's second largest economy.