Futures climb after Wall Street's worst day in three months
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[June 12, 2020]
By Medha Singh
(Reuters) - U.S. stock index futures surged
about 2% on Friday, pointing to a quick rebound for Wall Street from its
biggest one-day dive in about three months on fears of a resurgence in
coronnavirus infections.
Big U.S. lenders including Bank of America Corp <BAC.N>, Citigroup Inc <C.N>
and Morgan Stanley <MS.N> rose between 3% and 5% in premarket trading
after taking a hammering earlier this week.
The S&P 500 closed about 6% lower on Thursday as nerves over a rising
number of new infections in several U.S. states replaced expectations of
a swift recovery that drove the Nasdaq to a record high and led the S&P
500 well above its March lows.
The Federal Reserve's indication of a long road to recovery on Wednesday
also heightened concerns, putting the three main U.S. stock indexes on
track for their worst week in about three months.
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At 6:09 a.m. ET (10:08 GMT), U.S. e-minis stocks futures <EScv1> rose
1.99% to 3,070.25 points. The daily up trading limit for S&P futures is
at 3,152.
Dow E-minis <1YMcv1> were up 608 points, or 2.42%, with 59,444 contracts
changing hands. Nasdaq 100 E-minis <NQcv1> were up 163 points, or 1.68%.
The CBOE volatility index <.VIX> eased about 4.5 points after spiking to
40, its highest level since April 23.
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![](../images/061220pics/news_q31.jpg)
Traders exit the 11 Wall St. door of the New York Stock Exchange
(NYSE) in New York City, New York, U.S., June 11, 2020.
REUTERS/Brendan McDermid
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Photoshop maker Adobe Inc <ADBE.O> rose 5.2% after posting
better-than-expected quarterly profit, driven by strong demand for
its Creative Cloud and Document Cloud software.
Yoga apparel maker Lululemon Athletica Inc <LULU.O> fell 4.9% after
posting lower-than-expected quarterly revenue and profit due to
coronavirus-led store closures.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by
Saumyadeb Chakrabarty)
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