U.S. stock futures were higher on Thursday night after growing worries of a resurgence in coronavirus cases sent equity prices plunging.
Dow Jones Industrial Average futures traded 245 points higher, implying a Friday opening jump of around 420 points. S&P 500 and Nasdaq-100 futures also pointed to a positive Friday start for the two indexes.
The Dow, S&P 500 and Nasdaq on Thursday all recorded their biggest one-day losses since mid-March, posting losses of at least 5.3%. Thursday’s declines put the major averages on pace for their biggest weekly losses since March 20, when they all dropped at least 12%.
Still, Morgan Stanley Investment Management’s Andrew Slimmon said: “Given the magnitude…