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* Futures up: Dow 0.28%, S&P 0.28%, Nasdaq 0.40%
By Medha Singh
Feb 19 (Reuters) - U.S. stock index futures advanced on
Wednesday as signs of slowing coronavirus infections and
expectations that China would take more steps to bolster its
virus-hit economy helped investors return to equities after
Apple's sales warning.
The number of new coronavirus cases dropped in mainland
China, helping world stocks .WORLD rise, although global
health officials cautioned it was too early to predict how the
epidemic will play out. MKTS/GLOB
China has unveiled several fiscal and monetary measures in
an attempt to limit the damage from business shutdowns and
travel curbs on the world's second-largest economy, and many
analysts predict further policy easing is likely. China's stimulus measures, confidence in the U.S. economy
and hopes that the damage from the outbreak will be short-lived
helped Wall Street's main indexes notch fresh highs last week.
The Dow Industrials .DJI and the S&P 500 .SPX fell on
Tuesday as a warning from Apple Inc AAPL.O that it would be
unable to meet its current-quarter sales targets highlighted
concerns about disruptions to global supply chains.
However, the iPhone maker's shares closed off their session
lows as many analysts saw the forecast update as a near-term
problem. Apple shares were up 0.6% in premarket trading.
At 7:32 a.m. ET, Dow e-minis 1YMcv1 were up 83 points, or
0.28%. S&P 500 e-minis EScv1 were 9.5 points, or 0.28%, higher
and Nasdaq 100 e-minis NQcv1 were up 38.5 points, or 0.4%.
Market participants now await the minutes of the U.S.
Federal Reserve's last policy meeting, where the central bank
pointed to continued moderate growth for the domestic economy
and said it was monitoring risks from the coronavirus outbreak.
Several Fed policymakers are also scheduled to speak before
the minutes are released at 2:00 p.m. ET (1900 GMT).
Among stocks, Garmin Ltd GRMN.O rose 8% after the wearable
fitness devices maker forecast full-year revenue above analysts'
estimates.
Co-Diagnostics Inc CODX.O climbed 6.2% after the molecular
diagnostics company said it was moving towards obtaining
clearance from regulatory bodies to market and sell its
screening test for coronavirus.