1. Dow to rebound at open as investors evaluate Biden’s resurgence and coronavirus developments
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020.
Brendan McDermid | Reuters
U.S. stock futures were pointing to a strong rebound Wednesday on Wall Street as moderate Democrat Joe Biden scored major Super Tuesday wins in the race for his party’s presidential nomination. The implied gain of over 700 points for the Dow Jones Industrial Average at the open would largely reverse Tuesday’s 785 point decline. The Dow was all over the map, with an intraday gain of nearly 400 points and loss of almost 1,000 points after Tuesday morning’s emergency 0.5% interest rate cut by the Federal Reserve failed to temper concerns of slower economic growth due to the coronavirus outbreak. The Dow closed in a correction, down over 12% since record highs on Feb. 12. A correction is defined as a decline of at least 10% from recent 52-week highs. The ADP…