Stock futures in the U.K. surged as much as 12% Friday, but the price of the benchmark index that tracks them rose by more than 3%.
The index, which measures U.N. growth, rose to a record $10.15 per share, up from $10 per share on Friday.
The Dow Jones Industrial Average was up 20.25 points, or 0.5%, at 21,098.24, the S&P 500 was up 2.5 points, plus or minus 0.2%, to 2,854.96.
The Nasdaq composite index was up 7.4% at 4,542.96, while the Russell 2000 index was down 3.5% to 1,918.03.
The CBOE Volatility index, a measure of the percentage of the market that is under pressure, jumped to a four-year high of 15.5%.
Dow Jones also reported that the SAC Group, a mutual fund that owns about $1.5 trillion of U.s. stocks, reported a net loss of $842 million for the week ended Jan. 5.
It said the losses were due to “an unfavorable foreign exchange rate environment.”
It said in a statement that the losses “reflect a potential downgrade of our investments.”
Wall Street is hoping for a recovery from a sharp selloff in global equities last week that was triggered by President Donald Trump’s surprise call to end the U-2 program, which allowed U.n. planes to land in U.k. skies.
The market is also expecting the government to provide a new round of tax cuts next week.
“The Dow Jones industrial average is up more than 50% in three months, and the S & P 500 is up 12% in the same time period,” said Steve Schmitt, a spokesman for SAC.
“It is a great sign that the Dow is up and that the stock market is doing very well.
That said, there are still some issues that need to be resolved.”