Fannie Mae, Freddie Mac shares tumble after conservatorship comments
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* Futures up: Dow 0.85%, S&P 500 0.84%, Nasdaq 0.81%
By Shreyashi Sanyal
May 6 (Reuters) - U.S. stock index futures rose on Wednesday
as investors turned hopeful of a pickup in business activity
with several countries and U.S. states relaxing
coronavirus-induced curbs.
After plunging to 2016-lows in March as the sweeping
lockdown measures crushed supply chains and consumer demand, the
benchmark S&P 500 rebounded strongly in April on unprecedented
stimulus and signs the outbreak was peaking.
But with data still foreshadowing a severe economic slump
and millions of Americans out of work, analysts have warned of
another selloff, particularly if reopening economies sparks
another wave of infections.
The ADP National Employment Report is expected to provide a
first glimpse of hit to the labor market later on Wednesday,
followed by the more comprehensive nonfarm payroll data due on
Friday.
In early premarket trading, Activision Blizzard ATVI.O ,
rose 4.6% after raising its revenue forecast on higher demand
for video games such as its "Call of Duty" to shake off lockdown
boredom in the past two months. Walt Disney Co DIS.N , on the other hand, fell 1.5% after
estimating that global measures to contain the coronavirus cut
its profits by $1.4 billion, mostly from its shuttered theme
parks. At 6:24 a.m. ET, Dow e-minis 1YMcv1 were up 201 points, or
0.85%. S&P 500 e-minis EScv1 were up 24 points, or 0.84% and
Nasdaq 100 e-minis NQcv1 were up 72.25 points, or 0.81%.
SPDR S&P 500 ETFs SPY.P were up 0.8%.
The S&P 500 index .SPX closed up 0.9% at 2,868.44 on
Monday.