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

Published 06/12/2020, 06:50 PM
Updated 06/12/2020, 07:00 PM
ADBE
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LULU
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VIX
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* Futures up: Dow 2.42%, S&P 1.99%, Nasdaq 1.68%

By Medha Singh
June 12 (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.
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.

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