Stock market news live updates: Stock futures rise after biggest rally since 2020

U.S. stocks continued a dramatic ascent in futures trading ahead of Friday’s open after deceleration in CPI inflation data ignited the most violent rally on Wall Street since early 2020.

Futures tied to the S&P 500 (^GSPC) rose 0.5%, while futures on the Dow Jones Industrial Average (^DJI) added 165 points, or about the same percentage increase as the S&P. Contracts on the technology-heavy Nasdaq Composite (^IXIC) were 0.7% higher. Treasury yields held steady after their steepest one-day decline Thursday in more than a decade.

A dramatic reversal in China’s Zero-COVID policy to reduce the amount of time in quarantine travelers to the country spend also buoyed sentiment. Oil markets advanced as traders speculated the move may stoke a boost to commodity demand, with West Texas Intermediate (WTI) futures bouncing more than $3 to narrow in on $90 per barrel.

All three major averages skyrocketed Thursday, each recording their largest one-day advances since a rebound from the throes of the…

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This article was written by and originally published on finance.yahoo.com