Stock futures bounce back after pandemic-driven carnage

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By Sanjana Shivdas

(Reuters) – U.S. stock index futures jumped over 5% on Friday after the S&P 500 and posted their worst sessions since the 1987 “Black Monday” crash, lifted by hopes of a U.S. stimulus package to contain the economic damage of the coronavirus pandemic.

Fears about the damage to the travel industry were compounded on Thursday after sweeping U.S. restrictions on travel from Europe, which ended the longest bull run on Wall Street.

The crash erased over $2 trillion from the value of S&P-listed firms and plunged global equities into a bear market, but sentiment stabilized on Friday after indications that U.S. Democrats and Republicans could soon agree on a support measures. [nL1N2B52Q3]

U.S. energy firms Exxon Mobil (N:) and Chevron Corp (N:) rose more than 4%, tracking gains in oil prices. [O/R]

Cruise liners Carnival Corp (N:), Royal Caribbean (N:) and Norwegian Cruise Line Holdings (N:) looked set to advance after being hammered this week on a virtual halt in travel and business activity.

At 7:22 a.m. ET, S&P 500 e-minis were up 126 points, or 5.1% at their upper trading limit.

were up 1,110 points, or 5.26%, and were up 407.5 points, or 5.65%.

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