Stocks may continue rebound from coronavirus selling
Wall Street rebounded on Tuesday to cut into the losses that started the week caused by coronavirus jitter
U.S. equity futures are trading cautiously higher in an attempt to add to the prior session's gains.
The major futures indexes are indicating a rise of 0.3 percent.
Wall Street rebounded on Tuesday to cut into the losses that started the week caused by coronavirus jitters.
China reported Wednesday that the virus has sickened more than 6,000 people in China and over a dozen other countries and killed 132 people.
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In Asia, Hong Kong's Hang Seng dropped 2.8 percent after reopening from Lunar New Year holidays, while other Chinese markets remained closed.
Tokyo's Nikkei 225 index gained 0.7 percent.
In Europe, London's FTSE aadded 0.2 percent, Germany's DAX gained 0.1 percent and France's CAC rose 0.3 percent.
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Investors placed their concerns about the virus’ potential economic impact on the back burner on Tuesday and snapped up U.S. stocks beaten down earlier in the week, particularly chipmakers and other technology companies.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38085.8 | -375.12 | -0.98% |
| SP500 | S&P 500 | 5048.42 | -23.21 | -0.46% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15611.759799 | -100.99 | -0.64% |
The S&P 500 index rose 1 percent, the Dow gained 0.7 percent and the Nasdaq climbed 1.4 percent.
Otherwise, it's a heavy week for corporate earnings. Boeing, McDonald’s, Facebook and Microsoft will all report results on Wednesday.
Other big names reporting this week include Coca-Cola, Amazon, Caterpillar and Exxon Mobil.
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The Federal Reserve is also set to deliver its latest interest rate and economic policy update Wednesday.
The Associated Press contributed to this article.