US STOCKS-Wall St set to rise on trade deal relief; business activity data eyed

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Nike rises as brokerages boost price targets
* Spirit AeroSystems falls as it seeks relief from lenders
* Futures up: Dow 1.20%, S&P 1.03%, Nasdaq 0.70%

(Adds comment, details; updates prices)
By Pawel Goraj and Devik Jain
June 23 (Reuters) - Wall Street's main indexes were set to
rise on Tuesday as investors took heart from reassurances that
the Phase 1 trade agreement with China was intact, while upbeat
business activity data from Europe boded well for U.S. surveys
due later.
"The China Trade Deal is fully intact," President Donald
Trump tweeted late on Monday after White House adviser Peter
Navarro sparked confusion by saying the deal was over, roiling
risk assets globally and sending S&P stock futures down as much
as 1.7%. While heightened tensions between Washington and Beijing
this year have been a cause for concern, monetary and fiscal
support worth trillions of dollars, businesses restarting and
encouraging economic data have lifted the benchmark S&P 500
.SPX about 42% higher from its pandemic low hit in March. It
is now just about 8% below its Feb. 19 record high.
A boost from technology stocks helped Wall Street's three
major indexes close higher on Monday, with the tech-heavy Nasdaq
.IXIC registering its fourth record closing high this month.
"There's a lot of money on the sidelines and as the country
reopens, as the economy recovers, that money will be forced back
in and that's why we have a little bit more room to run here,"
said Thomas Hayes, managing member at Great Hill Capital LLC in
New York.
"And then probably, we start to take a rest towards the end
of the summer for a little bit before the economy truly starts
to catch up to where the market is."
After European stock markets were boosted by
better-than-feared business activity surveys for June, all eyes
will be on U.S. manufacturing and services sector PMI numbers,
due 9:45 a.m. ET (1345 GMT).
At 8:12 a.m. ET, Dow e-minis 1YMcv1 were up 311 points, or
1.2%. S&P 500 e-minis EScv1 were up 32 points, or 1.03% and
Nasdaq 100 e-minis NQcv1 were up 70.5 points, or 0.7%.
Among premarket movers, Nike Inc NKE.N rose 2% as
brokerages raised their price targets ahead of quarterly results
on Thursday.
Translate Bio TBIO.O soared 54% on plans to expand a
vaccine collaboration with Sanofi SASY.PA in a deal that could
earn the U.S. biotech company more than $2 billion from the
French drugmaker. Boeing Co's BA.N top supplier Spirit AeroSystems Holdings
SPR.N slipped 5.3% after it said it was seeking relief from
lenders as its finances were stretched by the COVID-19 pandemic
and a 737 MAX production halt. Micron Technology Inc MU.O slipped 0.9% as BMO downgraded
the chipmaker's shares to "market perform".