US STOCKS-Wall St set to add to Fed-driven rally

viernes 18 de marzo de 2016 08:56 GYT
 

* Adobe up after raising FY forecasts

* Futures up: Dow 48 pts, S&P 5.75 pts, Nasdaq 10.5 pts (Adds details, comment, updates prices)

By Abhiram Nandakumar

March 18 (Reuters) - Wall Street was set to add to a rally that pushed the Dow Jones industrial average into positive territory for 2016, as the Fed's tempered view on interest rates, a weakened dollar and rising oil prices whetted investors' risk appetite.

Crude oil rebounded to fresh 2016 highs on strong seasonal demand and hopes that major oil producers would reach a deal to freeze output.

U.S. stock index futures also got a boost from contracts set to expire on Friday.

"There's been some nervousness taken out of the market by the Fed making their comments," said Gary Bradshaw, a portfolio manager with Hodges Funds in Dallas.

"All in all, I think it's setting up for a very good day."

At 8:31 a.m. ET (1231 GMT), Dow e-minis were up 48 points, or 0.28 percent, with 23,147 contracts changing hands. S&P 500 e-minis were up 5.75 points, or 0.28 percent, with 211,493 contracts traded. Nasdaq 100 e-minis were up 10.5 points, or 0.24 percent, on 21,590 contracts.   Continuación...