US futures are rebounding on Wednesday morning after a close lower in the prior session ended the best streak of gains in months.
Which is kind of fitting, since it’s the seventh birthday of this bull market.
Near 7:25 a.m. ET, Dow futures were up 91 points, S&P 500 futures were up 11 points, and Nasdaq futures were up 23 points — all by about 0.5%.
The Dow closed down 109 points on Tuesday after a quiet day as far as economic data was concerned.
MBA mortgage applications crossed this morning, and were shown to rise 0.2% last week, rebounding from a 4.8% drop in the prior week.
Wholesale Inventories numbers are due at 10 a.m. ET. We’re also expecting an interest-rate decision from the Bank of Canada at that time. Then at 10:30 a.m., the Energy Information Administration will release its weekly numbers on crude-oil inventories.
Crude oil prices are also rising again like stocks. West Texas Intermediate crude futures for April delivery in New York rose nearly 2% to as high as $37.30 — still below the $38-per-barrel mark crossed earlier this week.
In company news, the Chipotle health scare is not over. A Chipotle restaurant near Boston was temporarily closed Tuesday after some workers fell sick. The company’s shares were down about 2% in pre-market trading.
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