Stocks rise as central banks ease market fears and Amazon announces job cuts.

Stock futures rose slightly in overnight trading Monday after the market staged a relief rally on the hope that the banking turmoil would be contained. Investors now expect a slower pace of tightening from the Federal Reserve in light of the banking crisis. Traders now are pricing in a 77% chance of a quarter-point rate hike when the Fed wraps its two-day policy meeting on Wednesday. Markets have yet to price in a recession, and that could mean stocks take a big leg lower from here, according to Cantor Fitzgerald's Eric Johnston.