US Markets

U.S. stock futures gain as vaccine hopes offset U.S.-China tensions

Credit: REUTERS/Lucas Jackson

U.S. stock index futures rose on Wednesday as investors took heart from signs of progress in developing a COVID-19 vaccine, looking past record daily death rates in some states and brewing tensions between Washington and Beijing.

By Medha Singh and Devik Jain

July 15 (Reuters) - U.S. stock index futures rose on Wednesday as investors took heart from signs of progress in developing a COVID-19 vaccine, looking past record daily death rates in some states and brewing tensions between Washington and Beijing.

Moderna Inc's MRNA.O experimental vaccine showed it was safe and provoked immune responses in all 45 healthy volunteers in an ongoing early-stage study, boosting its shares by 13.9% in premarket trading.

American Airlines DAL.N, United Airlines Holdings UAL.O, Carnival Corp CCL.N, Royal Caribbean Cruises Ltd RCL.N and Norwegian Cruise Line Holdings Ltd NCLH.N rose between 6% and 6.8%.

Wall Street futures and Asian equity markets had pared some gains earlier in the day after U.S. President Donald Trump ordered an end to Hong Kong's special status under U.S. law, prompting Beijing to warn of retaliatory sanctions.

The three main U.S. stock indexes have recouped most of their losses from the coronavirus-led slump, with a raft of stimulus measures and encouraging economic data lifting the S&P 500 to within 6% of its record high in February.

With the second-quarter earnings season now underway, investors are looking for annual forecasts from marquee companies to gauge the pace of the rebound in Corporate America.

Trading powerhouse Goldman Sachs GS.N rose 1% ahead of its quarterly report, a day after JPMorgan Chase & Co JPM.N beat quarterly profit estimates due to a surge in trading revenue.

But largest U.S. health insurer UnitedHealth Group Inc UNH.N slipped 0.1% even as its second-quarter profit more than doubled.

At 6:19 a.m. ET, Dow e-minis 1YMcv1 were up 274 points, or 1.03%, S&P 500 e-minis EScv1 were up 26.75 points, or 0.84% and Nasdaq 100 e-minis NQcv1 were up 54.5 points, or 0.51%.

Apple AAPL.O rose 1.4% after Europe's second-top court rejected an EU order to the iPhone maker to pay 13 billion euros ($14.78 billion) in Irish back taxes.

(Reporting by Medha Singh in Bengaluru; Editing by Maju Samuel)

((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MRNA DAL UAL CCL RCL NCLH GS JPM UNH AAPL NDX SPX

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More