S&P 500 futures hit their daily upper trading limit on Tuesday, rebounding from another brutal session caused by investor panic over the rapidly spreading coronavirus.
Investors are pinning their hopes on a US$2 trillion economic rescue package, negotiations over which appeared to have made progress late on Monday. The bill could be voted on as soon as Tuesday.
At 05:47 a.m. ET, S&P 500 e-minis rose 5.09 percent to its upper trading limit of 2,333.5 points. Dow e-minis were up 930 points, or 5.03 percent and Nasdaq 100 e-minis were up 375 points, or 5.37 percent.
SPDR S&P 500 ETFs were up 4.96 percent.
The S&P 500 index closed down 2.93 percent at 2,237.4 on Monday.