Stock market live updates: Futures spike, 10-year Treasury jumps, oil climbs 9%

Stocks were poised for major gains at the open, after posting the worst day in more than a decade on Monday.

Drew Angerer | Getty ImagesU.S. futures pointed to a monster 1,041-point gain for the Dow Jones Industrial Average, one day after the 30-stock index posted its worst day in more than a decade and single largest point drop on record. The index is set to open with a gain of more than 4%, with the S&P 500 and Nasdaq Composite also on track for 4% jumps.

Stock futures erased big losses in after-hours trading Monday and turned positive after President Donald Trump floated the idea ofto offset the negative impact from the coronavirus. The potential tax incentives come on top of an $8.3 billion spending package Trump signed last month. The jump higher comes amid a roller-coaster ride that's seen stocks whipsaw in either direction. On Monday fear gripped Wall Street as oil slid 24% amid escalating tensions between Saudi Arabia and Russia. The yield on the 10-year Treasury fell to a record low as investors sought safety amid the wave of selling.for exclusive insights and analysis, and live business day programming from around the world.

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