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US STOCKS-Futures buoyed by optimism over economic revival

Published 03/06/2020, 11:38
Updated 03/06/2020, 11:42
© Reuters.
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(For a live blog on the U.S. stock market, click LIVE/ or
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* Futures up: Dow 0.76%, S&P 0.50%, Nasdaq 0.40%

By Medha Singh
June 3 (Reuters) - U.S. stock index futures climbed on
Wednesday, with Nasdaq futures inching closer to a record high
as investors remained optimistic about an economic rebound from
a coronavirus-led slump amid continuing social unrest.
Ride-hailing firm Lyft Inc LYFT.O rose 4.7% in premarket
trading after reporting a 26% jump in rides on its platform in
May from the prior month, helped by strong growth in cities
where coronavirus-induced restrictions have been eased.
The S&P 500 .SPX and Nasdaq .IXIC have risen in six of
the past seven sessions, as bets on a post-pandemic economic
recovery helped investors look past brewing Sino-U.S. tensions
and protests in the United States over the death of a black man
in police custody.
Tens of thousands of people defied curfews to take to the
streets of U.S. cities on Tuesday for an eighth night of
protests as National Guard troops lined the steps of the Lincoln
Memorial. At 6:11 a.m. ET, futures tracking the Nasdaq 100 index
NQcv1 rose 0.4% to 9,684.25. It was about 0.5% below its Feb.
20 record high.
Dow e-minis 1YMcv1 were up 0.76% and S&P 500 e-minis
EScv1 gained 0.5%.
On the economic front, the ISM non-manufacturing PMI is
likely to show a reading of 44.0 in May, rising from 41.8 in
April. The data is expected 10 a.m. ET.
Separately, the ADP National Employment report is expected
to show private payrolls dropped 9 million in May, following a
record 20.236 million plunge last month. It comes ahead of the
more comprehensive jobs report on Friday.

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