US STOCKS-Wall Street set to open higher on oil, China stimulus

lunes 29 de febrero de 2016 10:02 GYT

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By Abhiram Nandakumar

Feb 29 (Reuters) - Wall Street was set to open higher as oil prices rose and after China resumed its monetary easing policy to spur its slowing economy.

Crude prices rose more than 1 percent after Saudi Arabia said it would work with other producers to limit oil market volatility.

"Investors are stepping back to try and assess where global growth is going to be ... as well as monetary policies going forward," said Chad Morganlander, portfolio manager at Stifel, Nicolaus & Co in Florham Park, New Jersey.

China's central bank on Monday cut its reserve requirement ratio, or the amount of cash that banks must hold as reserves, for the fifth time in a year..

At 8:58 a.m. ET (1358 GMT), Dow e-minis were up 20 points, or 0.12 percent, with 45,921 contracts changing hands. S&P 500 e-minis were up 3.25 points, or 0.17 percent, with 323,307 contracts traded. Nasdaq 100 e-minis were up 2.5 points, or 0.06 percent, on volume of 45,265 contracts.   Continuación...