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US STOCKS-Futures hit three-month high on prospects of economic recovery

Published 02/06/2020, 11:41
Updated 02/06/2020, 11:42
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* Futures up: Dow 0.72%, S&P 0.63%, Nasdaq 0.70%

By Devik Jain
June 2 (Reuters) - U.S. stock index futures hit a
three-month high on Tuesday as hopes of a rebound from a
coronavirus-led economic slump prevailed over fears of
disruption from widespread protests over race in the country.
Some of the worst-hit stocks in the travel sector, including
American Airlines Group Inc AAL.O , United Airlines UAL.O ,
Norwegian Cruise Line NCLH.N and Carnival Corp CCL.N ,
climbed between 3.1% and 5.0% in premarket trading.
Economic data pointing to a quick recovery, trillions of
dollars in stimulus and a restart in business have helped the
S&P 500 .SPX climb about 38% from its March lows, leaving it
only about 11% below its Feb. 19 record high.
Investors, however, are keeping a close eye on Sino-U.S.
tensions and protests in the United States over the death of a
black man in police custody.
Demonstrators set fire to a strip mall in Los Angeles,
looted stores in New York City and at least five U.S. police
were hit by gunfire, hours after President Donald Trump vowed to
deploy the U.S. military to regain control of the streets.
At 6:15 a.m. ET, Dow e-minis 1YMcv1 were up 184 points, or
0.72%. S&P 500 e-minis EScv1 were up 19.25 points, or 0.63%
and Nasdaq 100 e-minis NQcv1 were up 67.25 points, or 0.7%.

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