US STOCKS-Wall St set to gain as oil prices recover

miércoles 9 de marzo de 2016 09:41 GYT
 

* Brent crude up above $40 per barrel

* Chipotle down as 4 employees fall ill

* Futures up: Dow 86 pts, S&P 9.75 pts, Nasdaq 21.5 pts (Adds details, comment, updates prices)

By Abhiram Nandakumar

March 9 (Reuters) - U.S. stock indexes were set to open higher on Wednesday, tracking a rise in oil prices, even as investors remained wary of a China-led weakness in the global economy.

Benchmark Brent rose above $40 a barrel in anticipation that the world's largest exporters would agree to freeze production and help reduce a massive oversupply.

Crude prices, which have had a big influence on stocks this year, have rallied sharply in recent days. However, industry watchers remain skeptical of a sustained recovery due to the glut.

"Obviously, it's about oil prices," said Peter Cardillo, chief market economist at First Standard Financial in New York.

"The market is probably going to have an upward bias for most of the session as investors await the ECB (decision) tomorrow," he said.   Continuación...