US STOCKS-Wall St set to jump on stimulus, vaccine hopes

* Moderna surges on positive data for potential COVID-19
vaccine
* Carmakers rise as factories set to reopen
* Oil stocks boosted by jump in crude prices
* Futures up: Dow 2.82%, S&P 2.62%, Nasdaq 2.05%

(Adds details, comment, updates prices)
By Medha Singh and Ambar Warrick
May 18 (Reuters) - U.S. stock indexes were set to open
sharply higher on Monday on optimism fueled by encouraging data
from a potential COVID-19 vaccine trial, with investors also
counting on more stimulus to rescue the economy from a deep
economic slump.
Investors have kept a close eye on the vaccine programs of
several drugmakers, cheering any positive development amid fears
of a second wave of infections as governments start easing
restrictions.
Drugmaker Moderna Inc MRNA.O said its experimental vaccine
for COVID-19 showed promising results in an early stage study.
The stock jumped 26% in premarket trade. Markets were also encouraged by Federal Reserve Chairman
Jerome Powell's remarks over the weekend on a gradual economic
recovery, and his affirmation that more monetary stimulus was on
the way if required.
Powell also said the most important data for the U.S.
economy right now are the "medical metrics" around the
coronavirus pandemic and sectors such as travel and
entertainment would remain under pressure.
"Powell has also indicated something that was very important
- that the full recovery is based on finding a vaccine. It's
basically fueling hope. It's all about the economy and the
reopening of some of the states and reopening countries around
the world," said Peter Cardillo, chief market economist at
Spartan Capital Securities.
Wall Street's three major indexes closed higher on Friday as
investors weighed worries about Sino-U.S. trade relations and
weaker-than-expected U.S. economic data against growing optimism
that easing coronavirus restrictions would boost activity this
month.
However, they posted a weekly loss as uncertainty still
persisted over how the world would emerge from the coronavirus.
U.S. stock indexes have stuck to a tight range after recovering
from multi-year lows hit in March.
Cruise line operators Carnival Corp CCL.N , Royal Caribbean
Cruises Ltd RCL.N , Norwegian Cruise Line Holdings Ltd NCLH.N
jumped more than 7% as well as carriers like Delta Air Lines Inc
DAL.N and United Airlines Holdings UAL.O gained more than 7%
and 8.4%.
At 8:11 a.m. ET, Dow e-minis 1YMcv1 were up 663 points, or
2.82%. S&P 500 e-minis EScv1 were up 74.5 points, or 2.62% and
Nasdaq 100 e-minis NQcv1 were up 186.25 points, or 2.05%.
General Motors Co GM.N rose 5.2% and Ford Motor Co F.N
4% as they prepared to reopen their North American factories in
a push to restart work in an industry that accounts for about 6%
of U.S. economic activity. Oil and gas heavyweights Occidental Petroleum Corp OXY.N ,
Halliburton Co HAL.N , Schlumberger SLB.N jumped between 5.5%
and 5.8% after oil prices surged on the prospect of higher
demand. O/R
Apple Inc AAPL.O rose 1.9% as the iPhone maker said it
would reopen more than 25 of its branded stores in the United
States this week.