Dow Futures Imply A More Than 350 Point Surge At Friday\'s Open As Stocks Try To Rebound From Rout

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Dow futures imply a more than 400-point surge at Friday's open as stocks try to rebound from rout

Fred Imbert | Eustance Huang CNBC.com
div">> A man holds a New York City-themed umbrella outside the New York Stock Exchange (NYSE) on a rainy day in the Financial District, October 11, 2018 in New York City. Drew Angerer | Getty Images A man holds a New York City-themed umbrella outside the New York Stock Exchange (NYSE) on a rainy day in the Financial District, October 11, 2018 in New York City. 

U.S. stock futures traded higher on Thursday night, pointing to a rebound for Wall Street after back-to-back sell-offs.

As of 3:24 a.m. ET, Dow Jones Industrial Average futures rose 297 points, indicating a gain of 424.17 points at Friday's open. S&P 500 and Nasdaq 100 futures also pointed to solid gains to start off Friday's session.

The SPDR S&P 500 ETF (SPY) rose 0.8 percent in after-hours trading, while the Invesco QQQ Trust — which tracks the top 100 stocks in the Nasdaq Composite — jumped 1 percent.

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    The moves overnight come after U.S. stocks posted their worst two-day stretch in eight months. The three major indexes all fell more than 5 percent between Wednesday and Thursday.

    On Thursday, the Dow fell nearly 550 points, bringing its two-day losses to more than 1,300 points. The S&P 500, meanwhile, dropped 2.1 percent and closed below its 200-day moving average for the first time since April.

    "Although, it's not really sirens blaring, it's more of a wake-up call," said Mike Loewengart, vice president of investment strategy at E-Trade, about the sell-off. "Fundamentals remain strong and investors should not lose sight of that."

    But "with corporate earnings and midterms on the horizon, we could be in store for more turbulence," he said.

    October, a month known for major market sell-offs in the past, has been a brutal month for investors so far. The S&P 500 has lost 6 percent during the month so far and is now higher by just 2 percent for 2018.

    img src="https://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2018/07/02/103606907-1530557882616fred.60x60.jpeg?v=1530557902" alt="" title="" width="60" height="60"">Fred ImbertMarkets ReporterEustance HuangNews Assistant

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    Dow Futures Imply A More Than 350 Point Surge At Friday\'s Open As Stocks Try To Rebound From Rout

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    Dow Futures Imply A More Than 350 Point Surge At Friday\'s Open As Stocks Try To Rebound From Rout