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US STOCKS-S&P futures climb for eighth straight day

Published 31/08/2020, 11:45
© Reuters.
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* Futures up: Dow 0.16%, S&P 0.23%, Nasdaq 0.39%

By Medha Singh
Aug 31 (Reuters) - U.S. stock index futures rose on Monday
for the eighth session in a row as bets on an economic revival
backed by prolonged central bank support fueled risk appetite,
setting the benchmark S&P 500 for its best August in over three
decades.
The Federal Reserve's commitment to tolerate inflation and
keep interest rates low, signs of progress in developing
vaccines and treatments for COVID-19 and demand for tech-focused
stocks have helped the S&P 500 and Nasdaq hit consecutive
all-time highs recently.
The blue-chip Dow is within 3% of its record close on Feb.
12.
The three main indexes are also set for their fifth straight
monthly rise following this year's March lows, with the S&P 500
looking at its biggest percentage rise in August since 1984,
even as economic data pointed to an uneven recovery from the
steep downturn.
U.S. presidential campaigns are set to take center-stage in
the coming weeks with market volatility expected to spike ahead
of polling in November.
At 6:26 a.m. ET, Dow e-minis 1YMcv1 were up 46 points, or
0.16%, S&P 500 e-minis EScv1 were up 8 points, or 0.23% and
Nasdaq 100 e-minis NQcv1 were up 46.5 points, or 0.39%.
Among early movers, Aimmune Therapeutics Inc AIMT.O more
than doubled premarket after Swiss food group Nestle SA NESN.S
offered to pay $2 billion for full ownership of the peanut
allergy treatment maker to expand its fast-growing health
science business. Apple Inc AAPL.O gained 1.5% to $126.64, while Tesla Inc
TSLA.O rose about 3% to $455.60, as their stocks became less
costly after their pre-announced stock splits took effect.

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