Stock market news live updates: Stock futures rise to recover from bear market brink

Stock market news live updates: Stock futures rise to recover from bear market brink

U.S. stock futures rose Monday morning, with equities coming off a seven-week losing streak on more solid footing as investors shook off some recent volatility and digested fresh trade-related remarks from the Biden administration.

Contracts on the S&P 500 gained more than 1% in early trading. The index had closed out Friday's session flat on the day but down 18.7% from its Jan. 5 record closing high to come within striking distance of a bear market, defined once an index closes at least 20% from a recent all-time closing high.

Dow futures gained more than 300 points, or 1.1%, and Nasdaq futures were also higher by more than 1% during pre-market trading. The moves to the upside came after President Joe Biden said he was considering easing tariffs on Chinese goods that had been imposed during the prior administration. Biden's remarks, made during a news conference with Japanese Prime Minister Fumio Kishida, came in turn after Treasury Secretary Janet Yellen said last week that she was encouraging the Biden administration to remove the tariffs she said imposed "more harm on consumers and business" in the U.S.