Futures climb after Wall Street's worst day in three months

[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.

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.

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

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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