Gold bars to be exempt from tariffs, White House clarifies
(For a Reuters live blog on U.S., UK and European stock
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* Futures up: Dow 0.8%, S&P 0.9%, Nasdaq 1.1%
By Medha Singh
Nov 11 (Reuters) - U.S. stock index futures jumped on
Wednesday as signs of a working COVID-19 vaccine raised hopes of
a faster-than-expected economic rebound even as some states
braced for new business restrictions to combat surging
infections.
Nasdaq 100 futures .NQcv1 were up more than 1% after
underperforming this week, with technology mega-caps including
Netflix Inc NFLX.O , Amazon.com Inc AMZN.O and Facebook Inc
FB.O , the so-called stay-at-home stocks, gaining about 1% in
premarket trading.
Encouraging data from a late-stage vaccine earlier this week
prompted a rotation away from stay-at-home beneficiaries, such
as technology shares, and lifted demand for stocks sensitive to
economic growth, as well as those that have lagged this year
including energy, financials and industrials.
The top U.S. infectious disease specialist urged caution
until a vaccine can be approved and distributed, as California
and several states across the U.S. Midwest tightened
restrictions for residents. Markets also got a boost after Democrat Joe Biden was
projected the winner of the U.S. election on Saturday. While
President Donald Trump pursues a flurry of lawsuits challenging
the results, legal experts say the litigation has little chance
of changing the outcome. At 06:39 a.m. ET, Dow E-minis 1YMcv1 were up 0.78% and S&P
E-minis EScv1 gained 0.85%.
Lyft Inc LYFT.O jumped 5.5% after the ride-hailing app
said it was working on a new service to take a slice of the
burgeoning food-delivery market, as it works to make up for a
drop in quarterly revenue.