Stimulus bets prop up S&P, Nasdaq futures

Futures tracking the S&P 500 and Nasdaq 100 rose on Monday as investors remained hopeful about a deal in Washington over more fiscal stimulus, while Dow futures were subdued ahead of the start of the quarterly corporate earnings season.

The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill as negotiations on a broader package ran into resistance.

"Headline havoc will continue to drive volatility, but investors are all but certain that whoever wins the election, a new bold fiscal package is on the way," said Hussein Sayed, chief market strategist at FXTM.

Bets of fresh federal aid propped up U.S. stocks last week even as economic data pointed to a slowing domestic recovery. Growing expectations of a Democratic victory in next month's presidential election also helped Wall Street's main indexes end Friday at one-month highs.

A recent Reuters/Ipsos poll showed Americans were steadily losing confidence in President Donald Trump's handling of the COVID-19 pandemic, with his net approval on the issue hitting a record low.