A day after the futures markets hit circuit breakers to the downside, they have hit them to the upside. This is a day after the Fed has stepped in to inject liquidity into the marketplace, a total of $1.5 billion. The plan is to purchase a range of maturities, which includes bills, notes, and Treasury Inflation-Protected Securities. Currently the S&P 500 is up 126 points, the Nasdaq is up 407 points, Dow futures are up 1,110 points and the Russell 2000 is up 60 points.
Stocks to watch: WORK, UAL, UBER
A look at the chart: NQ has bounced off its session lows of 6942.5, and is currently attempting to test the 20 day sma. Futures are currently halted. So we will have to wait till the open to see where this market is headed.