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US STOCKS-Futures climb as economic recovery hopes outweigh Sino-U.S. tensions

Published 27/05/2020, 11:21
© Reuters.
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* Futures up: Dow 1.42%, S&P 1.22%, Nasdaq 0.92%

By Medha Singh
May 27 (Reuters) - U.S. stock index futures advanced on
Wednesday as hopes of an economic recovery eclipsed worries over
simmering tensions between the United States and China.
Unprecedented monetary and fiscal stimulus, the easing of
lockdowns and optimism about an eventual COVID-19 vaccine have
powered a rally, helping the S&P 500 .SPX end at its highest
level since early March on Tuesday.
The benchmark index, however, closed just short of 3,000
points, a key psychological level, after President Donald Trump
said the United States would announce before the end of the week
its response to China's planned national security legislation
for Hong Kong. At 6:07 a.m. ET, S&P 500 e-minis EScv1 were up 1.22% at
3030.5. Dow e-minis 1YMcv1 were up 354 points, or 1.42% and
Nasdaq 100 e-minis NQcv1 were up 86.5 points, or 0.92%.
The S&P 500 index .SPX closed up 1.23% at 2,991.77​ on
Tuesday.
Travel-related stocks, which were among the worst hit in the
sell-off earlier this year, continued to outperform. United
Airlines Holdings Inc UAL.O , American Airlines Group Inc
AAL.O rose more than 7% in premarket trade.
Planemaker Boeing Co BA.N is expected to announce U.S. job
cuts this week, people briefed on the plans and a union said.
Its shares rose 3.1%. Walt Disney Co DIS.N was set to announce its proposal for
a phased reopening of its Orlando, Florida, theme parks to a
local task force on Wednesday. Disney shares gained 1.9%.

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