S&P 500 futures hit record high as Trump rally returns

By By Yashaswini Swamynathan Markets Reuters

(Copyright Reuters 2017)

S&P 500 index futures hit a record intraday high on Wednesday, pointing to a revival of the post-election rally, encouraged by President Donald Trump's push for pro-growth policies.

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* The S&P 500 and the Nasdaq Composite closed at record levels on Tuesday after Trump signed executive orders to move forward with the construction of two oil pipelines.

* Dow component Boeing's shares rose 1.53 percent to $163 after the planemaker reported results.

* Seagate shares surged 12.3 percent to $42.06 in light premarket trading after the hard-disk drive maker forecast current-quarter revenue above estimates, buoyed by strong demand for its cloud-based storage products.

* Aluminum producer Alcoa rose 4.2 percent to $39.10 after reporting a better-than-expected first quarter revenue.

* AT&T and Qualcomm are scheduled to report results after market close.

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Futures snapshot at 6:52 a.m. ET:

* Dow e-minis <1YMc1> were up 58 points, or 0.29 percent, with 19,100 contracts changing hands.

* S&P 500 e-minis were up 6 points, or 0.26 percent, with 93,039 contracts traded.

* Nasdaq 100 e-minis were up 19.75 points, or 0.39 percent, on volume of 19,562 contracts.

(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D'Silva)