Stock futures turn higher despite concerns about reopening the country too soon

Optimism over plans for reopening has taken some hits from reports of new waves of infection

Get all the latest news on coronavirus and more delivered daily to your inbox.  Sign up here.

Continue Reading Below

U.S. equity futures are pointing to a higher open after trading lower overnight as fresh outbreaks of coronavirus cases overshadowed hopes over reopening economies.

The major futures indexes are indicating a rise of 0.2 percent when Wall Street begins trading.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

That followed a mixed session on Wall Street, where gains for technology and health care stocks helped offset more prevalent losses elsewhere.

Optimism over plans for reopening in many countries after shutdowns aimed at battling the pandemic has taken some hits from reports of new waves of infections in states and countries that are further ahead in lifting lockdown measures.

President Trump insisted Monday his administration has “met the moment” and “prevailed” on coronavirus testing, even as the White House ordered everyone who enters the West Wing, apart from Trump, to wear a mask after two aides tested positive for COVID-19 late last week.

Dr. Anthony Fauci will testify before the Senate on Tuesday about the coronavirus and according to the New York Times,  will warn about the dangers of reopening the country too soon

FAUCI WILL ISSUE A STARK WARNING ON THE RISKS OF REOPENING TOO SOON: REPORT

On Monday, Vice President Mike Pence and three of the nation’s top medical experts were in various states of isolation as a precaution.

China reported that auto sales fell again in April but losses narrowed in a sign the industry’s biggest global market is recovering from the coronavirus pandemic as Beijing eases anti-disease controls.

China's Shanghai Composite fell 0.1 percent, Hong Kong's Hang Seng lost 1.5 percent and Japan's Nikkei  edged 0.1 percent lower.

Toyota Motor reported its net profit dropped nearly 90 percent in the January-March quarter from a year earlier, though it said it expected a recovery as the pandemic is brought under control.

In Europe, London's FTSE added 0.9 percent, Germany's DAX rose 0.4 percent and France's CAC was off 0.2 percent.

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES25400.64-147.63-0.58%
SP500S&P 5003029.73-6.40-0.21%
I:COMPNASDAQ COMPOSITE INDEX9368.988915-43.37-0.46%

On Monday, the S&P 500 ended the day at a virtual standstill, rallying back from a 0.9 percent loss in the morning. The Dow Jones Industrial Average fell 0.4 percent, while the Nasdaq composite added 0.8 percent.

Benchmark U.S. crude oil climbed $1.33 to $25.48 per barrel in electronic trading on the New York Mercantile Exchange. It fell 60 cents, or 2.4 percent, to settle at $24.14 a barrel on Monday. Brent crude oil, the international standard, added 85 cents to $30.50 per barrel.

CLICK HERE TO READ MORE ON FOX BUSINESS

The Associated Press contributed to this article.