(Bloomberg) — U.S. stock index futures rose, erasing losses, as investors weighed the latest infection count against prospects for reopening economies.September contracts on the S&P 500 gained 0.4% as of 11:48 a.m. in Tokyo, after sliding as much as 1.1%. Futures on the Dow Jones Industrial Average rose 0.4% and those on the Nasdaq 100 Index climbed 0.5%. Beijing reported only nine new infections, in a sign that a recent outbreak is coming under control, while South Korea saw the smallest daily increase in about a month. California’s new cases rose by a record and Florida infections jumped.“Financial conditions are easing, and the early June surveys have improved markedly, but with U.S. case counts on the rise, and small clusters register globally, investors remain jittery,” Stephen Innes, the chief market strategist at AxiCorp Ltd., wrote in a note. “The market is caught between fears of a second Covid wave and improving data.”U.S. stocks dropped the most in more than a week on Friday amid a renewal of uncertainty over how quickly states can emerge from lockdowns. The S&P 500 fell 0.6% in volatile trading, led by declines in utilities, energy and industrial shares. On the week, the benchmark index closed up 1.9%.Coronavirus cases in the U.S. increased by 27,476 from the same time Saturday, to 2.27 million, according to data collected by Johns Hopkins University and Bloomberg News.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
