Stock Futures Soar, Hitting ‘Limit Up’ Ceilings

U.S. stock futures jumped higher Friday following the worst day for U.S. stocks since 1987.

Futures contracts to the S&P 500 and the Dow Jones Industrial Average reached their 5 percent “limit up” caps in pre-market trading Friday, indicating that stocks are set to burst higher when the cash market opens.

The Trump administration is reportedly near an agreement with Capitol Hill lawmakers on legislation aimed at bolstering the economy and aiding Americans hit by the coronavirus.

Stocks in Asia fell overnight, with Japan’s Nikkei index falling more than 6 percent and Korea’s Kospi falling 3.4 percent. But stocks in Europe jumped higher, rising Germany’s DAX rising 8.67 percent, France’s CAC rising 9.13 percent, and the U.K.’s FTSE 8.42 percent.