Dow Futures 220 Pts Higher; Big Tech in Focus as Biden Revives Net Neutrality By Investing.com – Investing.com

Dow Futures 220 Pts Higher; Big Tech in Focus as Biden Revives Net Neutrality By Investing.com – Investing.com

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening largely higher Friday, attempting to rebound from the previous session’s losses although weakness in Big Tech could weigh following a report that the Biden administration is to look to reinstate Obama-era rules on net neutrality.

At 7:15 AM ET (1115 GMT), the contract was up 220 points, or 0.7%, traded 17 points, or 0.4%, higher, while was marginally lower.

The broad-based closed Thursday 0.9% lower, the dropped over 250 points, or 0.8%, and the technology-heavy fell 0.7%. 

Axios, an American news website, reported Friday that President Joe Biden will push the Federal Communications Commission to reinstate rules on 'Net Neutrality' that had been scrapped by President Donald Trump. This would form part of an initiative aimed at enhancing competition in many sectors across the economy. Trump's reforms had been welcomed at the time by both content providers and broadband operators.

This comes as concerns grow about the impact of the Covid-19 virus, and particularly the delta strain, on global economic growth. For example, May grew 0.8% in the U.K. on the month, a sharp slowdown from the 2.0% gain the