US STOCKS-Futures climb on vaccine optimism as COVID-19 cases surge

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* Futures up: Dow 0.97%, S&P 0.86%, Nasdaq 0.57%

By Medha Singh
Nov 16 (Reuters) - U.S. stock index futures rose nearly 1%
on Monday as bets of an economic recovery, aided by hopes of an
effective COVID-19 vaccine, helped investors shrug off worries
over new restrictions to combat surging infections across the
United States.
Michigan and Washington state on Sunday became the latest to
impose new limitations on gatherings as total U.S. infections
crossed the 11 million mark, just over a week after hitting 10
million. The S&P 500 .SPX and the small-cap Russell 2000 .RUT
ended Friday at record closing highs, as upbeat early data from
a vaccine trial by Pfizer Inc PFE.N and BioNTech SE 22UAy.F
sparked a rotation into value stocks.
The tech-heavy Nasdaq .IXIC finished the week slightly
lower.
Big U.S. banks gained about 1% each in premarket trading,
building on sharp gains last week, while industrial behemoths
Boeing Co BA.N and Honeywell International Inc HON.N gained
about 1.7% each.
Better-than-expected factory output data from China also
bolstered optimism about a rebound from a coronavirus-induced
slump, pushing global stocks closer to record highs on Monday.
MKTS/GLOB
At 6:14 a.m. ET, Dow e-minis 1YMcv1 were up 286 points, or
0.97%, S&P 500 e-minis EScv1 were up 30.75 points, or 0.86%,
and Nasdaq 100 e-minis NQcv1 were up 67.75 points, or 0.57%.
Among other stocks, Simon Property Group Inc SPG.N rose
4.4% after the biggest U.S. mall operator cut its purchase price
for an 80% stake of rival Taubman Centers Inc TCO.N , as the
virus outbreak upends the retail industry sector. Johnson & Johnson JNJ.N gained 1.6% after launching a new
large-scale study to test a two-dose regimen of its experimental
COVID-19 vaccine.