US STOCKS-Futures surge on private jobs data, talks of coronavirus treatment

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* Jan. private-sector payroll rise more than expected
* Coty surges on profit, revenue beat
* Ford slumps after weak 2020 forecast
* Futures up: Dow 0.86%, S&P 0.86%, Nasdaq 1.10%

(Adds comment, details, updates prices)
By Medha Singh
Feb 5 (Reuters) - U.S. stock index futures climbed on
Wednesday on strong monthly domestic private jobs data and
reports of a treatment to fight the fast-spreading coronavirus.
Private-sector payrolls increased by 291,000 in January, the
ADP National Employment Report showed, far above expectations of
156,000 job additions.
"Investors are looking at economic data which is better than
expected and earnings season which have been good," said Art
Hogan, chief market strategist at National Securities in New
York.
"Markets are trying to price in a more realistic view of the
economic damage which will follow this disease."
Earlier in the day, futures gained after a report that a
Zhejiang University team had found some drugs that could inhibit
the coronavirus in vitro cell experiments.
Separately, researchers in the UK told Sky News that they
have made a "significant breakthrough" in finding a vaccine.
Reuters could not independently verify the reports, but
several traders cited them for the sharp moves in global stock
markets.
The World Health Organization played down the reports,
saying "there are no known effective therapeutics against this
2019-nCoV (virus)". Wall Street has staged a stellar comeback in the past two
sessions from last week's steep declines after China pumped in
billions of dollars into the financial system this week to limit
the economic impact of the virus outbreak.
The country's central bank is likely to lower its key rate
on Feb. 20, sources told Reuters, as the death toll from the
epidemic climbs to nearly 500.
At 8:41 a.m. ET, Dow e-minis 1YMcv1 were up 247 points, or
0.86%. S&P 500 e-minis EScv1 were up 28.5 points, or 0.86% and
Nasdaq 100 e-minis NQcv1 were up 102.5 points, or 1.1%.
The U.S. earnings season has reached the halfway mark and
corporate America has largely beaten Wall Street expectations.
Coty Inc COTY.N climbed 10.8% as the cosmetics maker beat
estimates for quarterly profit and revenue. Ford Motor Co F.N tumbled 8.5% after the No. 2 U.S.
automaker delivered a weaker-than-expected 2020 forecast.
Markets await the Institute of Supply Management's (ISM)
January data for the U.S. services sector, due at 10 a.m. ET.
Earlier this week, ISM's manufacturing report had showed a
surprise expansion in activity for last month.