Stimulus, dovish Fed bets set to lift Wall St. ahead of earnings rush

REUTERS: Wall Street was set for a higher open on Monday after a two-day slide, as bets on more stimulus to revive a battered domestic economy lifted the mood ahead of a week packed with quarterly corporate updates from companies including Boeing and Apple.

Expectations are running low for any major announcements at a two-day Federal Reserve meeting this week, but analysts expect policymakers to lay the groundwork for more action in September or in the fourth quarter. U.S. Senate Republicans on Monday are expected to unveil a US$1 trillion coronavirus aid package hammered out with the White House, which will now be negotiated with Democrats."The market is looking at this as a nice bridge of one to one-and-a-half trillion dollars to get us to the period in which we either have a treatment, or more likely a full vaccine toward the end of the year," said Thomas Hayes, managing member at Great Hill Capital LLC in New York.

At 8:15 a.m. ET, Dow e-minis were up 123 points, or 0.47per cent. S&P 500 e-minis were up 17.5 points, or 0.55per cent and Nasdaq 100 e-minis were up 101.5 points, or 0.97per cent.

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