US STOCKS-Wall Street set to rise at open on recovery optimism

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* S&P 500, Dow set for fourth weekly rise in five
* AMC jumps on further reopening plans
* Energy stocks jump on signs of improving oil demand
* Futures up: Dow 1.36%, S&P 1.23%, Nasdaq 1.06%

(Adds comment, details; Updates prices)
By Medha Singh and Devik Jain
June 19 (Reuters) - Wall Street was set to open higher on
Friday with the tech-heavy Nasdaq inching closer to a fresh
record high on hopes of a bounce back in post-pandemic economic
activity, as investors shrugged off rising new COVID-19 cases in
several U.S. states.
Energy companies Occidental Petroleum Corp OXY.N and Devon
Energy Corp CVN.N jumped 6.3% and 4.2% each in premarket
trading as Brent crude LCOc1 rose above $42 a barrel amid
signs of gradual recovery in demand and a promise by oil
producers to meet supply cuts. O/R
California, Florida and North Carolina urged mandatory mask
use on Thursday as at least six states set daily records for new
coronavirus cases. Mainland China also reported 32 new cases of
infections, an uptick from a day earlier. Risk of a resurgence of the virus outbreak prompting another
round of restrictive measures has led to choppy trading sessions
this week. However, the S&P 500 .SPX and the Dow .DJI are
headed for their fourth weekly rise in five following a strong
retail sales report and signs of additional official stimulus.
"We expect the overshoot in equities to continue, driven by
the very aggressive monetary policy easing, fiscal expansions
and the continued reopening of the global economy with some
temporary setbacks," said Sebastien Galy, senior macro
strategist at Nordea Asset Management.
The S&P 500 ended marginally higher on Thursday with the
Nasdaq .IXIC notching its sixteenth rise in the past 19
sessions.
The benchmark S&P 500 and the blue-chip Dow .DJI are about
8% and 12% below their respective record closing highs hit in
February, while the Nasdaq is about 0.5% below its all-time
closing high on June 10.
Markets are likely to become more volatile during Friday's
session on account of "quadruple witching," as investors unwind
interests in futures and options contracts prior to expiration.
"Today's trading activity could be very telling," said Sam
Stovall, chief investment strategist at CFRA Research in New
York. "If we end the day weak or having given up much of the
gains, that's an implication that investors are not confident
enough to hold a long position over the weekend."
At 8:13 a.m. ET, Dow e-minis 1YMcv1 were up 354 points, or
1.36%. S&P 500 e-minis EScv1 were up 38.25 points, or 1.23%
and Nasdaq 100 e-minis NQcv1 were up 105.5 points, or 1.06%.
AMC Entertainment Holdings Inc AMC.N jumped 9.1% on plans
to reopen theaters at about 450 locations in the United States
next month and the company expects returning to full-seating
capacity around Thanksgiving. Later in the day, U.S. Federal Reserve Chair Jerome Powell
will participate in a video conference where he will talk about
ways regions and cities across the country can help their
workforces better withstand and recover from shocks related to
the pandemic.