US STOCKS-Futures edge higher after Thanksgiving holiday

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* Futures up: Dow 0.18%, S&P 0.20%, Nasdaq 0.37%

By Shivani Kumaresan
Nov 27 (Reuters) - U.S. stock index futures edged higher on
Friday as optimism around an economic rebound next year
outweighed concerns around an expected surge in coronavirus
infections during the Thanksgiving holiday.
Wall Street's main indexes have gained more than 10% this
month as investors bet on a sooner-than-expected COVID-19
vaccine and calmer global trade under President-elect Joe Biden,
setting the S&P 500 .SPX for its best November ever.
A rotation into sectors such as industrials .SPLRCI and
financials .SPSY , deemed to benefit from an economic recovery,
has also powered the Dow .DJI to record highs and put it on
track for its biggest monthly gain since 1987.
But both the indexes pulled back on Wednesday as data showed
a stuttering recovery in the labor market, sending investors
back to the perceived safety of technology heavyweights,
including Apple Inc AAPL.O and Amazon.com Inc AMZN.O .
Reopening after the Thanksgiving holiday, the Dow e-minis
1YMcv1 were up 0.18% by 7:02 a.m. ET. The S&P 500 e-minis
EScv1 were up 0.20%, and the Nasdaq 100 e-minis NQcv1 were
up 0.37%.
Gains were capped by U.S. hospitalizations for COVID-19
reaching a record of more than 89,000 on Wednesday and experts
warning that holiday gatherings could lead to another spike in
cases and deaths. Stock markets in Europe were subdued by doubts around the
effectiveness of AstraZeneca's AZN.L COVID-19 vaccine,
potentially hindering chances of the shot getting speedy U.S.
and EU regulatory approvals. .EU
Trading volumes are expected to be light as the U.S. stock
market closes early on Friday.
In company news, Walt Disney Co DIS.N edged lower in
premarket trading after an increase in its planned layoffs due
to the COVID-19 pandemic. U.S. listed shares of online entertainment services company
iQIYI Inc IQ.O fell 2.6% after Reuters reported Alibaba Group
Holding Ltd BABA.N and Tencent Holdings Ltd (HK:0700) had put on hold
talks to buy a controlling stake in the video streaming service.