US STOCKS-Wall St headed lower after five-day run on fears over virus surge

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* Novavax jumps on $1.6 bln govt award for COVID-19 vaccine
* Energy companies slip on concerns over fuel demand
* Futures down: Dow 0.78%, S&P 0.65%, Nasdaq 0.31%

(Adds quote, details; updates prices)
By C Nivedita
July 7 (Reuters) - Wall Street's main indexes looked set to
open lower on Tuesday following the benchmark S&P 500's longest
streak of gains this year as investors weighed the risks to the
economy from tens of thousands of new coronavirus cases
nationwide.
Florida's greater Miami area became the latest U.S.
coronavirus hot spot to roll back its reopening while Texas
registered an all-time high in the number of people hospitalized
at any one moment with COVID-19 for the eight straight day.
Energy stocks including Occidental Petroleum Corp OXY.N
and Concho Resources CXO.N dropped about 2% on worries over
fuel demand. O/R
It looks like it will be a slight retracement of Monday and
Thursday's impressive gains, said Ryan Giannotto, director of
research at GraniteShares ETFs in New York.
U.S. stocks have climbed despite an alarming rise in
coronavirus cases as a surprise expansion in the U.S. service
sector and a record job additions in June are among the slate of
upbeat data recently that have bolstered views that an economic
recovery is underway.
The benchmark S&P 500 .SPX and Nasdaq wrapped up five
straight sessions of gains on Monday, with the latter closing at
a record level.
The conundrum of growing cases and rising stock prices
indicates that the liquidity from monetary stimulus is
overriding fears over the immediate impact of coronavirus on the
economy, Giannotto said.
At 8:10 a.m. ET, Dow e-minis 1YMcv1 were down 205 points,
or 0.78%. S&P 500 e-minis EScv1 were down 20.5 points, or
0.65% and Nasdaq 100 e-minis NQcv1 were down 33 points, or
0.31%.
Novavax Inc NVAX.O jumped 33.8% as the U.S. government
awarded $1.6 billion to the drugmaker to cover testing,
commercialization and manufacturing of a potential coronavirus
vaccine in the United States. Travel-related stocks, which were among the hardest hit
during lockdowns, fell. United Airlines Holdings Inc UAL.O and
American Airlines Group Inc AAL.O were down 2.6% and 2.3%,
respectively.
Royal Caribbean Group RCL.N and Norwegian Cruise Line
Holdings Ltd NCLH.N also dropped about 1% each, even as they
announced a joint task force to help develop safety standards
for restarting their businesses.