Stock futures rebound as S&P 500 and Dow recover from consecutive declines

U.S. stock futures rose after the S&P 500 and Dow Jones slipped for a second day. Box shares tumbled 12% after reporting disappointing third-quarter results, while MongoDB slipped 5% despite beating analyst expectations. Toll Brothers gained nearly 2% after exceeding expectations. Despite recent losses, all three stock indexes are still on track to end the quarter and year with significant gains. However, Wolfe Research's chief investment strategist, Chris Senyek, predicts disappointment for investors in the new year, with expectations of an 8% drop in the S&P 500 due to the lagged impacts of Fed rate hikes and falling inflation. In Asia, Japan's Nikkei 225 led gains, and Australia's GDP expanded more than expected in the third quarter. Bank of America reports that investors are still favoring cash despite the stock market rally, and volatility is expected in 2024 due to the uncertain macroeconomic backdrop and the upcoming presidential elections. Notable after-hours movers include Box, MongoDB, and Dave & Buster's.