US stock index futures rose on Wednesday as signs of more official stimulus supported hopes of an economic recovery from a coronavirus-led slump, ...
REUTERS: Wall Street's main indexes were set to open higher on Wednesday, building on their three-day rally as signs of more official stimulus supported hopes of an economic recovery, even as six U.S. states saw a record rise in new coronavirus cases.
The benchmark S&P 500 and the Dow now remain about 8per cent and 11per cent below their respective record closing highs hit in February, while the tech-heavy Nasdaq hovered about 1per cent below its all-time closing high on June 10. 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 .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.
Cruise operator Norwegian Cruise Line Holdings Ltd tumbled 7.7per cent in premarket trading as it extended the suspension of its voyages through September end due to the virus outbreak.
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