Dow futures bounce back as global markets steady after Brexit selloff

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Dow futures bounce back as global markets steady after Brexit selloff
Katy Barnato        | @KatyBarnato
32 Mins Ago
CNBC.com

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U.S. stock index futures indicated a higher start to Wall Street trade on Tuesday as markets in Europe rebounded after the two-day sharp selloff.
The pan-European STOXX 600 index traded 2.4 percent higher on Tuesday, with the U.K.'s benchmark, internationally focused FTSE 100 up 2.5 percent.


Symbol       
Name       
Price                
Change       
%Change       
Volume
FTSE        FTSE        6127.85                 145.65        2.43%        677292648
DAX        DAX        9456.45                 187.79        2.03%        58732784
CAC        CAC        ---       
---
---        ---        ---
IBEX 35        IBEX 35 Idx        7842.10                 196.60        2.57%        214200269
"Markets are bouncing, and can bounce further but the clouds on the horizon are dark, and they're real," Kit Juckes, strategist at Societe Generale, said in a note on Tuesday.

"There's a pattern for Monday mornings to extend moves of the previous week before Tuesday sees everyone take stock," he added.

The dollar index, which tracks the greenback against a basket of major currencies, declined dearly on Tuesday, after four days of gains. Similarly, U.S. Treasury bonds fell, as the surge in "safe-haven" trades that followed the U.K.'s "Brexit" vote waned.

U.S. data due on Tuesday include the third estimate for first quarter economic growth, the Case-Shiller Index and consumer confidence. First quarter growth is seen being revised up slightly to 1 percent quarter-on-quarter.

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Tio Networks will post quarterly results before Wall Street opens on Tuesday and host a conference call at 2 p.m. ET. Carnival will also report earnings early in the day and Nike will report after the markets close.

Despite the rebound in markets, the fallout from the U.K.'s surprise vote to leave the European Union (EU) last week continues. On Monday, the U.K. lost its final triple-A ratings, with Standard & Poor's and Fitch Ratings both announcing downgrades. A two-day EU summit will kick off on Tuesday.

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