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US STOCKS-Futures jump on J&J vaccine cheer, stimulus optimism

Published 01/03/2021, 12:31
Updated 01/03/2021, 12:36
© Reuters.
MSFT
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AAPL
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AMZN
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META
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AAL
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window.)
* Futures up: Dow 1%, S&P 1.1%, Nasdaq 1.5%

By Medha Singh
March 1 (Reuters) - U.S. stock index futures jumped more
than 1% on Monday as Johnson & Johnson's newly approved COVID-19
vaccine and progress in a new $1.9 trillion coronavirus relief
package fueled optimism over a swift economic recovery.
Shares of cruise liner and hotel operators, and carriers
including Carnival Corp CCL.N , Royal Caribbean Cruises Ltd
RCL.N Hilton HLT.N , Delta Air Lines Inc DAL.N and American
Airlines AAL.O gained between 1% and 5% premarket.
Johnson & Johnson JNJ.N began shipping its single-dose
shot vaccine after it became the third authorized COVID-19
vaccine in the United States over the weekend. President Joe Biden scored his first legislative win as the
House of Representatives passed his $1.9 trillion coronavirus
relief package early Saturday. The bill now moves to the Senate.
Sectors that stand to benefit more from an economic rebound
outperformed, with Bank of America Corp BAC.N , Citigroup Inc
C.N and JPMorgan Chase & Co JPM.N jumping between 1.3% and
2.2%, and energy firms Chevron Corp CVX.N and Exxon Mobil Corp
XOM.O between 1.6% and 3.5%.
Wall Street's main indexes ended lower last week, with the
Nasdaq suffering its worst week in four months, as a rise in
long-dormant yields signaled bonds are more serious investment
competition, sparking a pullback in high-valuation tech stocks.
Apple AAPL.O , Microsoft Corp MSFT.O , Facebook Inc FB.O
and Amazon.com Inc AMZN.O rebounded between 1.3% and 2.3% on
Monday.
At 06:03 a.m. ET, Dow E-minis 1YMcv1 were up 318 points,
or 1.03% and S&P 500 E-minis EScv1 were up 42.25 points, or
1.11%. Nasdaq 100 E-minis NQcv1 were up 186.75 points, or
1.45%.

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