S&P 500, Nasdaq Set For Higher Open On Tech Bounce

The U.S. Senate was set to vote later in the day on a significantly scaled back Republican coronavirus relief bill in what could be the final vote on fiscal aid in Congress before the Nov. 3 presidential and congressional elections.

Wall Street’s main indexes rebounded on Wednesday, snapping the biggest three-day rout since March, as investors returned to tech-focused stocks which are deemed insulated from the current economic downturn.

The CBOE volatility index, a gauge of investors’ fear, hit a near three-month high at the start of a historically tumultuous month of September after a stellar five-month rally in U.S. stocks, led by tech shares and backed by tremendous fiscal and monetary support.

Some of Wall Street’s biggest players are viewing the recent selloff as a bout of turbulence rather than the start of a longer slide.