US STOCKS-Wall St set to fall as COVID-19 case tally hits another record

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Safe havens in demand as U.S. COVID-19 cases surge
* Energy stocks slip on concerns over fuel demand
* Netflix rises after Goldman Sachs PT raise
* Futures down: Dow 0.75%, S&P 0.64%, Nasdaq 0.45%

(Adds quote, details; updates prices)
By Medha Singh
July 10 (Reuters) - Wall Street's main indexes were set to
open lower on Friday on fears that a record increase in
coronavirus cases could further delay the easing of
restrictions, while taking a toll on Corporate America.
Investors shed risky assets for the safety of gold and U.S.
Treasuries as the United States registered the largest
single-day increase in new infections globally for the second
day in a row on Thursday. GOL/ US/
About 41 of the 50 U.S. states have reported an increase in
COVID-19 cases over the last two weeks that has forced Americans
to take new precautions, with several states backpedaling on
reopening plans.
"Investors are paying more attention to new case discovery
than they are to the economic data and that is a pattern we've
seen develop over the last two weeks," said Art Hogan, chief
market strategist at National Securities in New York.
A slate of economic data, including a record monthly
payrolls addition, has pointed to a revival in business activity
in June, fueling the U.S. stock market's stimulus-driven rally.
The S&P 500 has risen more than 40% from its March lows and
stands about 7% below its record high hit in February. The
Nasdaq logged its third closing high this week, riding on a
recent rally in technology stocks.
Big banks are set to report their financial results next
week, marking the onset of the second-quarter earnings season.
Overall profits for S&P 500 firms are expected to plunge the
most since the financial crisis, according to IBES data from
Refinitiv.
"While it will be a pretty ugly set of numbers, investors
tend to look forward not backwards, and I don't think we're
going to see a lot of companies move the needle in terms of
expectations," Hogan said.
At 8:15 a.m. ET, Dow e-minis 1YMcv1 were down 191 points,
or 0.75%. S&P 500 e-minis EScv1 were down 20.25 points, or
0.64% and Nasdaq 100 e-minis NQcv1 were down 48.5 points, or
0.45%.
Energy stocks Occidental Petroleum OXY.N and Exxon Mobil
Corp XOM.N dropped 2.3% and 1.8%, respectively, in premarket
trading as oil prices retreated on concerns about the pace of
the economic recovery and fuel demand. O/R
Netflix Inc NFLX.O rose 1.1% after Goldman Sachs hiked its
price target on the video streaming service's shares.