7/20, 10:30 AM (Source: TeleTrader)
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Dow up over 200 pts premarket after selloff

Shares on Wall Street posted gains early in premarket trading on Tuesday following yesterday's massive selloff on the back of rising virus concerns.

The rapidly spreading Delta variant of COVID-19 reignited fears that the global economic recovery from the pandemic could be delayed, particularly hitting hard travel stocks like airlines and cruise operators. On the earnings calendar, Philip Morris was set to report its second-quarter results ahead of today's open, while streaming giant Netflix was scheduled to announce its earnings after the closing bell.

The Dow Jones gained 240 points at 4:25 am ET. At the same time, the S&P 500 advanced 0.59% while the Nasdaq 100 climbed 0.49%. The euro was down 0.08% against the dollar, buying 1.17911.

Breaking the News / JC