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US STOCKS-Futures muted after S&P 500, Dow hit over two-week high

Published 06/10/2020, 11:58
Updated 06/10/2020, 12:00
© Reuters.
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(For a live blog on the U.S. stock market, click LIVE/ or
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* Futures: Dow up 0.04%, S&P down 0.17%, Nasdaq off 0.35%

By Devik Jain
Oct 6 (Reuters) - U.S. stock index futures were subdued on
Tuesday as investors booked profits after a rally that sent the
S&P 500 and the Dow to their highest levels in more than two
weeks, while awaiting signs Washington was close to agreeing on
more fiscal stimulus.
House Speaker Nancy Pelosi and Treasury Secretary Steven
Mnuchin spoke by phone on Monday about fresh relief measures and
were preparing to talk again on Tuesday. Comments from officials that a deal was still possible had
lifted Wall Street's main indexes in the previous session,
helping them recoup losses from last week that were sparked by
news that President Donald Trump had contracted COVID-19.
Trump returned to the White House on Monday from the Walter
Reed Medical Center military hospital, but faced fresh backlash
for removing his mask upon his return and urging Americans not
to fear the disease that has killed more than 209,000 in the
United States. At 6:37 a.m. ET, Dow e-minis 1YMcv1 were up 11 points, or
0.04%, S&P 500 e-minis EScv1 were down 5.75 points, or 0.17%,
and Nasdaq 100 e-minis NQcv1 were down 39.75 points, or 0.35%.
Growing political uncertainty in the run up to the
presidential elections and mixed macroeconomic data have
increased volatility in U.S. stocks, with the benchmark S&P 500
.SPX and the tech-heavy Nasdaq .IXIC about 5% and 6% below
their respective record highs hit more than a month ago.
Amazon.com Inc AMZN.O , Apple Inc AAPL.O , Facebook Inc
FB.O and Google-owner Alphabet Inc GOOGL.O , which have
together dominated Wall Street's recovery from its coronavirus
lows in March, fell in light premarket trading.
The companies have faced intense regulatory scrutiny into
their quest for global market share, and the U.S. House of
Representatives' antitrust report contains a "thinly veiled call
to break up" the companies, Republican Congressman Ken Buck said
in a draft response seen by Reuters. All eyes later in the day will be on an address by Federal
Reserve Chair Jerome Powell at a virtual meeting of the National
Association for Business Economics, where global central bankers
are likely to present their plans about how much more they can
do to prevent an economic depression. U.S.-listed shares of BioNTech 22UAy.F jumped 9.7% after
the European health regulator said it had started a real-time
review of the COVID-19 vaccine being developed by the German
biotech firm and U.S. drugmaker Pfizer Inc PFE.N . Pfizer's
shares rose 1.7%.

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