NEW YORK (AP) — Stock futures are sharply higher, suggesting stocks are ready to bounce back from their worst losing streak since the market bottomed last March.
The market is trying to recover from a three-day losing streak that saw the Dow Jones industrial average fall 5.2 percent. Concerns about a new proposal from President Barack Obama to tighten regulation over the banking sector spooked the market.
A brewing battle over Federal Reserve Chairman Ben Bernanke’s reappointment could also sway trading throughout the week.
Dow Jones industrial average futures is up 88, or 0.9 percent, at 10,239. Standard & Poor’s 500 index futures is up 10.70, or 1 percent, at 1,101.70, while Nasdaq 100 index futures is up 11.75, or 0.7 percent, at 1,809.50.
