US STOCKS-S&P, Nasdaq futures at record levels as Trump signs stimulus aid bill

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* Futures up: S&P 0.7%, Dow 0.6% and Nasdaq up 0.7%

By Devik Jain and Supriya R
Dec 28 (Reuters) - Futures tracking the S&P 500 and the
Nasdaq were at record levels on Monday as President Donald
Trump's move to sign into law a long-awaited $2.3 trillion
pandemic aid bill bolstered bets on a vaccine-led economic
recovery.
In a sudden reversal late on Sunday, Trump backed down from
his earlier threat to block the bill, restoring unemployment
benefits to millions of Americans and averted a federal
government shutdown. Airline shares were among the top gainers as the payroll aid
is expected to provide some relief to the battered sector.
United Airlines UAL.O and American airlines AAL.O surged
more than 3% each in premarket trading, while Delta Air lines
DAL.N rose 1.06% and Southwest Airlines LUV.N added 1.88%.
Bank stocks were up about 1%, with Wells Fargo WFC.N and
Goldman Sachs GS.N leading gains.
Democrats in the U.S. Congress on Monday will put to vote a
proposal for higher pandemic relief payments for Americans,
although it appears unlikely to gain traction in the
Republican-controlled Senate. Fueling the global appetite for risk, Britain and European
Union clinched a lean post-Brexit trade deal on Thursday, while
the launch of a mass COVID-19 vaccination drive in Europe over
the weekend added to the upbeat mood. Bets on a vaccine-led economic recovery and scores of fiscal
and monetary stimulus have set the S&P 500 on course to rise
about 15% this year with technology mega-caps such as Apple Inc
AAPL.O and Amazon.com Inc AMZN.O accounting for the bulk of
those gains.
Tech stocks lost some fizz in recent weeks as less-loved
parts of the market such as energy, financials and small caps
took center stage on hopes of an economic rebound. Investors are
also weighing their bets on U.S. technology stocks in the coming
year against the backdrop of pricey valuations and regulatory
risks.
At 06:44 a.m. EST, S&P 500 E-minis EScv1 were up 26.75
points or 0.72%, Dow E-minis 1YMcv1 were up 174 points or
0.58% and Nasdaq 100 E-minis NQcv1 were up 85.75 points or
0.68%.
Oil stocks, including those of Exxon Mobil Corp XOM.N ,
Chevron Corp CVX.N and Occidental Petroleum Corp OXY.N ,
gained between 1.7% and 2.6%, tracking higher crude prices.
O/R
U.S.-listed shares of Alibaba Group BABA.K fell 1.2%,
extending Thursday's loss of 13.34% after China launched an
anti-trust probe into the company.