U.S. index futures rose, indicating stocks will advance for the first time since Britain voted to leave the European Union, amid optimism that policy makers are committed to limit the fallout from the U.K.’s exit.

Contracts on the S&P 500 Index expiring in September rose 1.2 percent to 2,007.75 at 9:09 a.m. in New York, after the underlying gauge posted its worst two-day drop since August. Dow Jones Industrial Average futures climbed 209 points, or 1.2 percent, to 17,194.

The U.K.’s decision last week triggered a rush toward safe havens as global equities lost about $3.6 trillion in market value and the S&P 500 tumbled 5.3 percent to erase its 2016 advance. U.K. Prime Minister David Cameron will face EU leaders at a dinner in Brussels on Tuesday, after both the Bank of England and European Central Bank pledged to increase liquidity.

“People are calming down and looking at it more rationally,” said John Conlon, chief equity strategist at People’s United Wealth Management, which oversees $5.5 billion. “It’s a combination of that plus the fact that by now you’ve seen the investors that were betting that Brexit wasn’t going to happen finally unwinding those bets.”

EU leaders are gathering for a two-day European Council summit to discuss Britain’s exit. Germany, France and Italy prodded the U.K. government to start the process, saying they want to move forward and limit market risks. Britain’s Chancellor of the Exchequer George Osborne sought to reassure investors on Monday, saying that contingency plans were in place to shore up the economy amid ongoing volatility, but that Brexit won’t be “plain sailing” — something that Cameron reiterated in Parliament.

European Central Bank President Mario Draghi added to speculation of a more coordinated effort by policy makers to mitigate the Brexit repercussions, calling for global policy alignment in a speech at the ECB Forum in Sintra, Portugal. Draghi said there is a “common responsibility” to address the world’s economic weaknesses.

The rally in European markets and gains in U.S. futures signal equities, particularly banks, will see relief after two days of sharp declines spurred by concerns that Britain’s EU exit would further burden an already sluggish global economy. Investors have pushed back bets on Federal Reserve interest-rate increases, pricing in just a 10 percent chance for higher borrowing costs by February 2017, down from 52 percent before the vote outcome. Odds for a rate cut by November are nearly 16 percent.

Aside from the Brexit drama, a report today showed the U.S. economy expanded more than previously projected in the first quarter as improved performance in trade and business investment more than made up for weaker consumer spending. A reading on consumer confidence is due later this morning.

Bank of America Corp. and Citigroup Inc. climbed more than 3.2 percent in early New York trading, with financial companies headed for a rebound after bearing the brunt of the selloff in the previous two days.

LendingClub Corp. added 4.9 percent after naming Scott Sanborn chief executive officer and announcing job cuts. Dow Chemical Co. gained 0.7 percent after saying it will cut about 2,500 jobs and shut plants in North Carolina and Japan.

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