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S&P, Dow futures edge higher on stimulus, rebound hopes

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Futures tracking the S&P 500 and the Dow Jones indexes edged higher on Monday following a selloff on Wall Street last week as investors weighed hopes of more stimulus and improving data against a resurgence in global coronavirus cases.

FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York, U.S., May 28, 2020. REUTERS/Lucas Jackson

29 Jun 2020 07:16PM

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REUTERS: Futures tracking the S&P 500 and the Dow Jones indexes edged higher on Monday following a selloff on Wall Street last week as investors weighed hopes of more stimulus and improving data against a resurgence in global coronavirus cases.

Wall Street's major indexes had tumbled more than 2per cent on Friday as several U.S. states imposed business restrictions in response to the surge in COVID-19 cases. Stocks in Asia and Europe were muted overnight as the global death toll from the respiratory illness crossed half a million on Sunday.

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The benchmark S&P 500 has rallied since a coronavirus-driven crash in March, up about 16per cent since April and set for its best quarter since 1998, partly on a raft of U.S. fiscal and monetary stimulus.

This week, investors will focus on employment, consumer confidence and manufacturing data for June for signs of whether the U.S. economy will continue to rebound after indications of a pickup in May.

At 6:44 a.m. ET,Read More – Source