US STOCKS-Futures rise as oil prices surge

lunes 9 de mayo de 2016 07:40 GYT
 

* Futures up: Dow 46 pts, S&P 5.75 pts, Nasdaq 13.5 pts

By Yashaswini Swamynathan

May 9 (Reuters) - U.S. stock index futures were higher on Monday, extending gains from Friday after the disappointing U.S. jobs report suggested the Federal Reserve would raise rates just once this year and as crude rallied after a wildfire in Canada hit supplies.

* Crude prices surged 2.2 percent to $45.64, rising for the fourth straight day after three major oil companies warned they would not be able to deliver on some contracts for Canadian crude.

* Wall Street rebounded from early losses and closed higher on Friday after investors focused on the positive aspects of the April jobs report.

* Still, a bigger-than-expected drop in China's imports and exports in April pointed to weak demand and raised concerns about the ability of the world's second-largest economy to sustain its recent recovery.

* In the two weeks to Friday, mixed economic data and uncertainty about the path of future interest rate hikes had put a dampener on a stock market rally that saw the S&P gain about 14 percent from its February lows.

* A Reuters survey following the jobs report showed Wall Street's top banks have all but abandoned any expectation that the Fed will raise rates in June. Most now see the U.S. central bank's next rate hike coming in September.

* Bank of Minneapolis Fed President Neel Kashkari will speak at 1:00 p.m. ET (1700 GMT) in Minnesota.   Continuación...