U.S. futures are rebounding after trading lower most of the overnight session, the day after Rex Tillerson was fired as Secretary of State raising concern about the latest turmoil involving the White House.
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Dow Jones futures are 0.39% higher. The S&P 500 was up 0.30% and the Nasdaq Composite was rising by 0.41%.
Stocks dropped Tuesday, after an early rally, when the news broke that Tillerson was being replaced by CIA Director Mike Pompeo.
The Dow Jones Industrial Average closed 171.58 points lower, or 0.68%, at 25,007.03. The S&P 500 fell 17.71 points, or 0.64%, to 2,765.31. The Nasdaq Composite snapped a seven-day winning streak, slipping 77.31 points, or 1.02%, to 7,511.01.
The Tillerson news erased a gain triggered by a Labor Department report showing that its consumer price index rose 0.2% in February. While the reading was in line with estimates, it was well below the 0.5% jump in January.
A report on producer prices, measuring inflation on the wholesale level, will be released prior to the start of trading. Investors will also weigh the latest report on retail sales.
European markets have also turned around after opening lower..
London’s FTSE was up 0.22%, France’s CAC is higher by 0.19%, while Germany’s DAX is up 0.19%.
Asian shares faltered on Wednesday.
Japan’s Nikkei closed the day lower by 0.9%, snapping a four-day winning streak.
Hong Kong’s Hang Seng also snapped a four-day streak of gains, ending down 0.5%.