Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

US STOCKS-Futures rise on China stimulus hopes, signs of slowing virus spread

Published 19/02/2020, 13:56
© Reuters.  US STOCKS-Futures rise on China stimulus hopes, signs of slowing virus spread
US500
-
DJI
-
AAPL
-
GRMN
-
CODX
-

(For a live blog on the U.S. stock market, click LIVE/ or

type LIVE/ in a news window.)

* 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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.