(For a live Reuters blog on the US, UK and European stock markets, click LIVE / or type LIVE / in a news window)
* Rising futures: Dow 0.2%, S&P 0.2%, Nasdaq 0.1%
December 24 (Reuters) – U.S. stock index futures rose on Thursday, before a reduced trading session in the hope of a gradual economic recovery, while Alibaba plummeted after China launched an antitrust investigation into the e-commerce giant.
The S&P 500 and Dow closed higher on Wednesday, with investors turning to the cyclical stocks that would benefit most during the recovery, encouraged by the launch of the COVID-19 vaccine and the approval of the coronavirus relief law.
The so-called rotation weighed on Nasdaq, dominated by technology, which ended in a low.
Investors also applauded reports that Britain and the European Union were on the verge of closing a close trade deal with Brexit.
Meanwhile, President Donald Trump on Wednesday vetoed a bipartisan defense policy bill and raised the prospect that the United States could face a government shutdown during a pandemic.
The Alibaba Group plummeted 7.3% after China launched an antitrust investigation into big business as part of an accelerated crackdown on anti-competitive behavior.
At 6:37 am ET, Dow e-minis rose 50 points, or 0.17%, S&P 500 e-minis rose 7.75 points, or 0.21%, and Nasdaq 100 e-minis rose 17.75 points, or 0.14%.
Markets will close at 1 pm ET on Thursday and the Christmas holiday on Friday.
Energy stocks, including Exxon Mobil Corp and Chevron Corp, rose slightly in the pre-market, accompanying the strength in the crude oil market as a drop in US stocks and indications of an imminent Brexit deal sustained oil prices. (Reporting by Devik Jain in Bengaluru; edited by Sriraj Kalluvila)
Breakingviews
Reuters Breakingviews is the world’s leading source of financial information for setting the agenda. Like the Reuters brand for financial commentary, we dissect the great business and economic stories as they emerge around the world every day. A global team of around 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are the responsibility of the authors.