US STOCKS-Futures inch higher on hopes of quick economic revival

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* Futures up: Dow 0.23%, S&P 0.30%, Nasdaq 0.39%

By Medha Singh and Devik Jain
June 17 (Reuters) - U.S. stock index futures rose on
Wednesday as signs of more official stimulus supported hopes of
an economic recovery from a coronavirus-led slump, even as six
U.S. states saw a record rise in new COVID-19 cases.
The S&P 500 .SPX wrapped up its best three-day percentage
rise in a month on Tuesday after a report on a massive fiscal
stimulus plan, and a stunning retail sales report for May
reflected a pickup in demand as businesses reopened.
Encouraging economic data and trillions of dollars in
monetary and fiscal stimulus have propelled a rally in the Wall
Street indexes from their late-March trough.
The benchmark S&P 500 and the Dow now remain about 8% and
11% below their respective record closing highs hit in February,
while the tech-heavy Nasdaq hovered about 1% below its all-time
closing high on June 10.
However, Federal Reserve Chair Jerome Powell warned on
Tuesday that a full recovery is unlikely until the public is
confident that the disease in under control, as he testified
before U.S. lawmakers. The second day of his virtual hearing
will begin at 12 p.m. ET (1400 GMT).
Six U.S. states including Arizona, Florida and Oklahoma saw
a record increase in new coronavirus infections on Tuesday as
states pushed ahead with reopening. Beijing extended its
movement curbs as it fought the worst resurgence of the disease
since early February. At 6:16 a.m. ET, Dow e-minis 1YMcv1 were up 60 points, or
0.23%. S&P 500 e-minis EScv1 were up 9.25 points, or 0.3% and
Nasdaq 100 e-minis NQcv1 were up 39 points, or 0.39%.
Cruise operator Norwegian Cruise Line Holdings Ltd NCLH.N
tumbled 9.4% in premarket trading as it extended the suspension
of its voyages through end of September due to the virus
outbreak. Other cruise operators Carnival Corp CCL.N and Royal
Caribbean Cruises Ltd RCL.N also dropped between 4.3% and
4.4%.