U.S. stock futures were little changed in overnight trade on Monday, after the Dow erased more than 1,100 points of losses to end a wildly volatile session.

Futures contracts linked to the Dow Jones Industrial Average rose 19 points. S&P 500 futures were flat, while Nasdaq 100 futures fell 0.1%.

In regular trading, the Dow rose 99 points, or 0.3%, to snap a six-day losing streak. At the day’s low, the 30-stock benchmark was down 3.25%. The S&P 500 rose 0.28% for the first time in five sessions after falling nearly 4% earlier in the day. The benchmark index briefly fell into correction territory, down 10% from its record close on Jan. 3.

The Nasdaq Composite rose 0.6%, reversing a 4.9% drop earlier in the day. For the first time since 2008, the tech-heavy index recovered its 4% loss and ended higher.

“Buyers are coming in to buy the dip,” Ally chief currency and market strategist Lindsey Bell said on CNBC’s “Closing Bell” Monday. “Things are looking a little oversold, so that’s not surprising. But It doesn’t mean we’re going to be very clear … we’ve got a lot to do this week,” she said

Ultimately, Bell said, volatility will remain until the Fed starts raising rates.

The Fed’s Open Market Committee begins its two-day meeting on Tuesday, with a rate decision scheduled for Wednesday at 2 p.m. ET. The Fed is not expected to start raising rates at this time, so investors will be watching for signs of when the Fed will start raising rates and the pace of rate hikes.

“We’re in what I call a triple threat…Rates are rising rapidly, the market has been working overtime, and so are all the algorithms trying to figure out what that means and what that speed means for valuations and global equities, Alli McCartney of UBS Private Wealth Management told CNBC on Monday.

“Today is a capitulation,” she said, before adding that while volatility will persist, the market narrative is starting to shift toward one of the stocks that supports strong earnings growth.

Monday’s volatility followed the S&P 500’s worst week since the pandemic hit in March 2020. The Dow and S&P 500 are also on track for their worst month since March 2020.

Spooked by rising interest rates, investors have moved from high-growth areas of the market to safer investments. The yield on the benchmark 10-year U.S. Treasury note was at 1.769% on Monday.

The tech-heavy Nasdaq Composite was hit particularly hard last week and fell into correction territory. The index has fallen 11.4% so far this year, underperforming the S&P and the Dow, which have fallen 7.5% and 5.4%, respectively.

“Given expectations for solid growth in the economy and corporate profits … we do not believe the fundamentals support any near-term technical weakness beyond the classic 10.0% correction,” said John Lynch, chief investment officer at Comerica Wealth Management. A review of the background suggests that a bottom is forming,” he added.

Before the market opened on Tuesday, multiple earnings reports including Johnson & Johnson, 3M, General Electric, American Express and Verizon were due.

Companies such as Microsoft and Texas Instruments will report earnings after the close.