Stock Futures Higher After S&P 500, Nasdaq Fall Into Correction

Stock futures rose on Tuesday, which was mirror opposite of action seen in futures market early Monday. Gains were gradually paring down though, with futures for the S&P 500 index rose 19.30 points, or 1%, to 1,889.50, while those for the Dow Jones Industrial Average jumped 161 points, or 1%, to 15,873. Futures for the Nasdaq 100 index gained 24 points, or 0.6%, to 4,027.25. Those gains came on the heels of one of the most volatile sessions in years for Wall Street on Monday, which finished with the S&P 500 and Nasdaq Composite in correction territory. Futures brushed aside a 4% drop for the China's Shanghai Composite , though Asia trade remained volatile. Oil prices rebounded as well, with October crude up 78 cents, or 2%, to $39.02 a barrel. Other markets also defied losses for China, such as Australia's ASX 200 index rose 2.3%, and the Hong Kong Hang Seng index gained 1.6%. The Nikkei 225 index dropped just over 4.3% at the open, rebounded 1.6% and was back off another 1% recently.

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