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

US STOCKS-Futures slide as new coronavirus cases surge

Published 13/02/2020, 13:48
© Reuters.  US STOCKS-Futures slide as new coronavirus cases surge
US500
-
DJI
-
CSCO
-
IXIC
-

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

type LIVE/ in a news window)

* Futures down: Dow 0.69%, S&P 0.67%, Nasdaq 0.79%

By Medha Singh

Feb 13 (Reuters) - U.S. stock index futures slipped on

Thursday, a day after Wall Street closed at record levels, as a

spike in the number of deaths and new cases related to the

coronavirus outbreak in China sent investors scurrying to

safe-haven assets.

Gold and the Japanese yen were in demand as a change in a

diagnostic method pushed the number of new infections in Hubei

province of China to 14,840 on Thursday, up from 2,015 cases

reported on Wednesday while the death toll climbed to 1,367.

Fresh uncertainty about the scale of the epidemic looked set

to derail a rally in stocks, a day after investors bought on

signs that the virus-spread was slowing.

The S&P 500 .SPX and the Nasdaq .IXIC have set closing

highs in the past three sessions while the Dow Jones Industrial

.DJI finished at an all-time high on Wednesday.

Adding to the downbeat mood was a lackluster revenue and

profit forecast from Dow component Cisco Systems Inc CSCO.O .

The network gear maker's shares dropped 4.8% in premarket

trading. NetApp Inc NTAP.N tumbled 11.7% as the data storage

equipment maker's current-quarter profit forecast fell short of

expectations.

At 7:15 a.m. ET, Dow e-minis 1YMcv1 were down 205 points,

or 0.69%. S&P 500 e-minis EScv1 were down 22.5 points, or

0.67% and Nasdaq 100 e-minis NQcv1 were down 76.25 points, or

0.79%.

Losses were broad based with most of the Dow components

trading before the bell in negative territory, barring

Caterpillar Inc CAT.N .

The construction and mining equipment maker's shares edged

0.2% higher after Goldman Sachs upgraded to "buy".

On the economic front, the Labor Department's inflation

report for January is scheduled for 8:30 a.m. ET (1330 GMT).

Consumer price index is expected to have edged up 0.2%, same as

in December.

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.