The Biden administration is maintaining a positive outlook on the economy, as conversations with regulators and market participants indicate that the underlying economy remains healthy. Despite Monday's global market rout, which saw significant declines, reports back to Washington suggested that the situation was within normal parameters. There were no reports of bank failures, central bank interventions, or signs of systemic risk spreading through the international financial system.
On Tuesday, US stocks were poised for a rebound, with Dow futures up 170 points and S&P 500 and Nasdaq futures showing a 0.8% increase. Japan's Nikkei index also saw a significant rise of 10% following the crash on Monday.
