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Leading the gainers premarket were shares of companies hammered
by the pandemic such as cruise line operators and airlines.
Carnival Corp <CCL.N>, Norwegian Cruise Line Holdings Ltd <NCLH.N>,
American Airlines <AAL.O> and United Airlines Holdings <UAL.O>
climbed between 10.6% and 17.5%.
The tech-heavy Nasdaq <.IXIC> closed within a striking distance
of its Feb. 19 all-time peak on Friday after a closely-watched
monthly jobs report showed an unexpected fall in unemployment
rate.
The S&P 500 <.SPX> and the Dow <.DJI> are now 5.7% and 8.3%
below their respective closing records after surging more than
45% from their pandemic lows hit on March 23 as most businesses
have now reopened after weeks of shutdown to curb the spread of
the virus.
This week's centerpiece is the Federal Reserve's two-day policy
meeting, ending on Wednesday, where the jobs report is expected
to be discussed.
It would be the first meeting since April when Fed Chair Jerome
Powell said the U.S. economy could feel the weight of the
economic shutdown for more than a year.
At 6:05 a.m. ET, Dow e-minis <1YMcv1> were up 139 points, or
0.51%. S&P 500 e-minis <EScv1> were up 11.25 points, or 0.35%
and Nasdaq 100 e-minis <NQcv1> were up 2.5 points, or 0.03%.
Gilead Sciences <GILD.O> gained 3.2% after a report said
Britain's AstraZeneca <AZN.L> had approached the U.S. rival
about a possible merger to form one the world's largest drug
companies.
Occidental Petroleum Corp <OXY.N>, Devon Energy Corp <DVN.N> and
Marathon Oil Corp <MRO.O> gained between 16% and 17.5%, among
the energy companies surging after major oil producers agreed to
extend a deal on record output cuts. [O/R]
(Reporting by Devik Jain and Medha Singh in Bengaluru; Editing
by Sriraj Kalluvila)
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