Stock futures pointed to a mild market bounceback following a significant sell-off Monday that left major indexes with their worst day in nearly two years.
ET Tuesday, Dow Jones Industrial Average futures, S&P 500 futures, and and Nasdaq futures were each up about 0.4%.
The recovery comes as Japan's Nikkei stock index, which saw its worst day in a generation Monday, rallied for its best day since 2008, surging 10.2%Still, Tuesday's gains are unlikely to make up for the losses stocks suffered Monday.
Torsten Slok, chief economist at Apollo Global Management, said in a note Tuesday that the economy remains in decent shape.
"If the economy were crashing, default rates would be spiking higher, and that is not what the data shows.” he wrote.
Persons:
Dow, Goldman Sachs, Torsten Slok, ”
Organizations:
Dow Jones Industrial, Nasdaq, Nikkei, Federal, Citibank, Federal Reserve, Citi, Fed, Apollo Global Management
Locations:
U.S