U.S. stock index futures turned positive in volatile overnight trading following last week’s heavy losses —the worst for the market since October.
Futures contracts tied to the Dow Jones Industrial Average edged 67 points higher. S&P 500 futures and Nasdaq 100 futures both traded in mildly positive territory. The moves came in a choppy session, with Dow futures dropping 300 points earlier.
Tobias Levkovich, Citigroup’s chief U.S. equity strategist, believes the market’s valuation is stretched and that the recent turmoil fueled by retail traders is the kind of thing that could spark the start of a correction from these overvalued levels.
“We think that the vulnerabilities are there, and…