FOX Business’ Susan Li reports that stocks rose as strong earnings offset the fears surrounding coronavirus.
U.S. equity futures are pointing to a higher open as coronavirus fears ease slightly.
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The major futures indexes are indicating a gain of 0.2 percent when trading begins on Wall Street.
Wall Street’s benchmark S&P 500 index closed at a new high Monday, recovering from Friday’s decline.
Anxiety about the virus has been partially offset by stronger U.S. corporate earnings and expectations that global central banks will step in to support economic growth.
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In Europe, London’s FTSE added 0.9 percent, Germany’s DAX gained 0.8 percent and France’s CAC tacked on 0.5 percent.
In Asia, Hong Kong’s Hang Seng index surged 1.3 percent and China’s Shanghai Composite added 0.4 percent.
Japan’s markets were closed for a holiday.
Asian markets slid Monday after analysts warned investor optimism that China’s disease outbreak was under control might be premature.
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The government reported 108 deaths in the 24 hours through midnight Monday, the first time the daily fatality toll exceeded 100.
That raised mainland China’s death toll to 1,016 with 42,638 confirmed cases, most of them in the central province of Hubei, where the virus emerged in December.
Businesses are gradually reopening and the Chinese government has promised low-interest loans and tax cuts but airlines and other industries face potentially huge losses.
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The impact abroad is spreading. On Monday, Sony and Amazon became the latest companies to pull out of a major European technology show due to virus fears.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 29276.82 | +174.31 | +0.60% |
| SP500 | S&P 500 | 3352.09 | +24.38 | +0.73% |
| I:COMP | NASDAQ COMPOSITE INDEX | 9628.388831 | +107.88 | +1.13% |
On Wall Street, the S&P 500 rose 0.7 percent, the Dow Jones Industrial Average rose 0.6 percent and the Nasdaq climbed 1.1 percent.
Traders shifted money into U.S. government bonds and bid up the price of gold. Both can signal unease.
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Investors mostly shunned energy and materials stocks, which depend upon economic growth more than other sectors do.
The Associated Press contributed to this article.
