US STOCKS-Futures gain on trade deal optimism; service sector data awaited

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* Futures up: Dow 0.26%, S&P 0.20%, Nasdaq 0.25%

By Arjun Panchadar
Nov 5 (Reuters) - Wall Street futures rose on Tuesday, a day
after all three major U.S. stock indexes closed at record highs
on rising hopes of a trade deal between Washington and Beijing.
China is pushing President Donald Trump to remove more
tariffs as part of the deal, which may be signed this month,
according to the latest reports. Trade-sensitive chipmakers, including Advanced Micro Devices
Inc AMD.O and Nvidia Corp NVDA.O , rose between 0.6% and 1.1%
in premarket trading. U.S.-listed Chinese stocks also looked set
to extend another session of gains.
Gathering optimism around the resolution of the trade war,
along with a largely better-than-expected third-quarter earnings
season and an upbeat October jobs report have spurred a Wall
Street rally this month.
The S&P 500 and Nasdaq closed at record highs for the second
consecutive session on Monday, while the Dow Jones hit a record
high for the first time since July.
Generic drugmaker Mylan NV MYL.O rose 1.9% after beating
Wall Street estimates for third-quarter profit, benefiting from
drug launches such as Wixela and Fulphila. Tapestry Inc TPR.N was up 2.5% as it also beat quarterly
profit estimates on strong demand for its high-margin Coach
handbags and apparel in China and Europe. Investor attention now shifts to the ISM's services report,
which is expected to show a reading of 53.5 in October, up from
52.6 in September. The report is due at 10 a.m. ET.
At 7:37 a.m. ET, Dow e-minis 1YMcv1 were up 71 points, or
0.26%. S&P 500 e-minis EScv1 were up 6.25 points, or 0.2% and
Nasdaq 100 e-minis NQcv1 were up 20.5 points, or 0.25%.
Uber Technologies Inc UBER.N fell 5.8% after the
ride-hailing service posted a wider third-quarter loss as it
tried to outspend competitors through discounts. Shares of Xerox Holdings Corp XRX.N were up 5.3% after the
photocopier maker said it would sell its 25% stake in Fuji
Xerox, its joint venture with Fujifilm Holdings 4901.T , for
$2.3 billion.