US STOCKS-Futures jump as higher oil prices boost energy stocks

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* Futures up: Dow 1.05%, S&P 0.89%, Nasdaq 1.0%

By Medha Singh
Aug 12 (Reuters) - U.S. stock index futures rose on
Wednesday following a pullback on Wall Street in the previous
session, as resilient fuel demand drove up oil prices, while
investors remained on edge due to a stalemate over the next
coronavirus federal aid bill.
Energy stocks Exxon Mobil Corp XOM.N gained 1.1% and
Chevron Corp CVX.N added 1.5% in premarket trading.
Republicans and Democrats have been deadlocked over the
fifth coronavirus relief bill even as U.S. cases crossed 5
million. Differences have centered around issues such as
unemployment benefits and aid to state and local governments.
The S&P 500 and Dow snapped seven days of gains on Tuesday
after the benchmark index came within 0.15% of its closing
record high, powered by historic fiscal and monetary stimulus
and signs of a nascent economic recovery.
The Nasdaq was the first of the three benchmark indexes to
bounce back to an all-time high in June. The Dow is about 6%
below its February peak.
With a better-than-feared second-quarter earnings season
largely over, attention will turn to the upcoming U.S.
presidential elections. Democratic candidate Joe Biden on
Tuesday picked Senator Kamala Harris as his choice for vice
president. At 6:21 a.m. ET, S&P 500 e-minis EScv1 were up 0.89% at
3,359.75 points, 0.6% below the record high of 3,379 notched on
Tuesday. Dow e-minis 1YMcv1 were up 291 points, or 1.05%, and
Nasdaq 100 e-minis NQcv1 were up 108.75 points, or 1%.
Among early movers, Tesla Inc TSLA.O rose 5.7% as it
announced a five-for-one stock split in an attempt to make its
shares more accessible to employees and investors. Inflation data is on tap at 8:30 a.m. ET (1230 GMT). The
Consumer Price Index is expected to have edged up 0.3% in July,
after a 0.6% rise in June.