October 16, 2021
Economy

Stock Futures Rise; Oil Prices Near Three-Year High

U.S. stock futures rose, and oil hit its highest level in nearly three years, as fears about China Evergrande Group ‘s debt problems waned and investors bet on further economic reopening from the pandemic.

Futures tied to the S&P 500 rose 0.3%, suggesting the broad-market index is set to extend its three-day rise. Dow Jones Industrial Average futures climbed 0.4%, while the tech-heavy Nasdaq-100 futures added 0.1%, indicating that investors are rotating into more cyclical sectors. 

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