June 12, 2020 / 12:49 PM / a month ago

US STOCKS-Wall Street set for strong open after Thursday's rout

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* Adobe rises after profit beat

* Lululemon slips after revenue misses estimates

* Futures up: Dow 1.95%, S&P 1.72%, Nasdaq 1.25% (Adds comment, details; updates prices)

By Medha Singh and Devik Jain

June 12 (Reuters) - Wall Street’s main indexes were set to open sharply higher on Friday, a day after they saw the biggest one-day dive in about three months on fears of a resurgence in coronavirus infections.

Big U.S. lenders including Bank of America Corp, Citigroup Inc and Morgan Stanley rose between 3% and 5% in premarket trading after taking a hammering earlier this week.

Boeing Co jumped 6.2%, but was still headed for a 17% fall this week. United Airlines, American Airlines , Norwegian Cruise Line jumped about 9% and 11% after leading losses on the S&P 500 on Thursday.

“People are just taking a breather after the outright selling yesterday, like we saw back in the dark days of February and early-March,” said Ryan Giannotto, director of research at GraniteShares ETFs in New York.

“There’s always going to be more headlines about cases increasing, more tests increasing. That’s just something that markets, investors and companies are going to have to learn to deal with.”

The three main U.S. stock indexes were set to wrap up their worst week in 12 as the Federal Reserve’s indication to a long road to recovery and rising COVID-19 cases in the United States cast a pall over investors bets on a swift economic rebound.

On Thursday, the tech-heavy Nasdaq ended about 5% below its record closing high and the S&P 500 tumbled nearly 6%, after surging about 45% from its March low.

The CBOE volatility index eased about 4.5 points after jumping to its highest level since April 23.

At 8:35 a.m. ET, S&P 500 e-minis were up 1.72% at 3,062.50. The daily up trading limit for S&P futures is 3,152. Dow e-minis were up 491 points, or 1.95% and Nasdaq 100 e-minis were up 119.75 points, or 1.25%.

Photoshop maker Adobe Inc rose 4.5% after posting a better-than-expected quarterly profit, driven by strong demand for its cloud software.

“The technology sector has led the way so far this year and we think this can continue,” said Stuart Rumble, an investment director at Fidelity Investments.

“Many companies and businesses are being forced to explore new ways to conduct their businesses online, ranging from remote working, video conferencing to online shopping and payments.”

Yoga apparel maker Lululemon Athletica Inc fell 3.3% after posting a lower-than-expected quarterly revenue and profit due to coronavirus-led store closures. (Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty and Uttaresh.V)

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