July 27, 2020 / 12:58 PM / 9 days ago

US STOCKS-Stimulus, dovish Fed bets set to lift Wall St ahead of earnings rush

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* Hasbro tumbles after profit miss

* Moderna up as late-stage study for COVID-19 vaccine begins

* U.S. Republicans likely to unveil $1 trillion aid proposal

* Futures up: Dow 0.47%, S&P 0.55%, Nasdaq 0.97% (Adds quote, details; Updates prices)

By Medha Singh and Devik Jain

July 27 (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.

Still, safe haven assets were in demand with gold prices notching a record high amid concerns over Sino-U.S. tensions, escalating coronavirus cases in southern and western U.S. states and an unexpected rise in U.S. jobless claims last week.

Trillions of dollars in fiscal and monetary stimulus have been pivotal in bringing the S&P 500 to within 5% of its record high hit in February.

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.

Investors are also keeping a close watch on progress over the next round of government aid ahead of enhanced unemployment benefits set to expire on Friday.

U.S. Senate Republicans on Monday are expected to unveil a $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.

Earnings reports will also be a major focus this week, with 189 S&P 500 companies expected to report results, including Boeing Co, Pfizer Inc, Facebook Inc, Apple Inc, Amazon.com Inc and Alphabet Inc .

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

Investors will get the first glimpse of the second-quarter U.S. GDP report on Thursday, which is likely to show the economy contracted by 34% in the three-month period.

Moderna Inc jumped 8.9% premarket as it started a U.S. government-backed late-stage trial to assess its COVID-19 vaccine candidate in about 30,000 adults.

Hasbro Inc dropped 8.5% after the toymaker missed estimates for quarterly earnings and revenue, hit by production shutdowns due to coronavirus lockdowns. (Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Shounak Dasgupta)

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