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Stocks - U.S. Futures Surge Higher; More Stimulus Eyed

April 07, 2020 / Peter Nurse

U.S. stocks are set to push higher at the open Tuesday, continuing Monday’s strong gains, on tentative signs the spread of coronavirus is slowing as well as talk of more funds to support the battered economy. At 7:00 AM ET (1100 GMT), futures for the S&P 500 traded 89 points, or 3.4%, higher, futures for the Nasdaq up 251 points, or 3.1%. The Dow futures contract rose 817 points, or 3.6%. Wall Street closed firmly higher Monday, with all three major cash indices up over 7%, the best session out of the last nine. The number of Covid-19 cases in the U.S. have continued to rise, with Johns Hopkins University Tuesday registering over 368,000 cases, and nearly 11,000 deaths. However, there has been some positive news out of New York, the epicentre of the U.S. outbreak, as Governor Andrew Cuomo said late Monday the virus-related fatality rate was effectively flat for two days.