Stocks trade cautiously higher on uptick in coronavirus cases

U.S. equity futures are trading slightly higher to start the week on concerns about the coronavirus.

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China reported an uptick in new cases of its virus outbreak and analysts warned optimism the disease is under control might be premature.

A decline last week in the number of new Chinese virus cases reported daily fed investor optimism the disease and its economic impact might fade. But economists and industry analysts warn the outbreak still is weighing on retailing, tourism, electronics, shipping and other fields.

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In Asian markets, Tokyo's Nikkei shed 0.6 percent, Hong Kong's Hang Seng lost 0.6 percent, while China's Shanghai rebounded 0.5 percent.

China reported 3,062 new virus cases in the 24 hours through midnight Sunday. That up 15 percent from Saturday's tally in a reminder of enduring uncertainty about the disease.

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China's central bank promised additional lending to cushion companies against the blow of intensive controls that closed shops, factories and other businesses nationwide.

In European markets, London's FTSE slipped 0.3 percent, Germany's DAX was down 0.2 percent and France's CAC was off 0.3 percent.

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES22653.86-26.13-0.12%
SP500S&P 5002659.41-4.27-0.16%
I:COMPNASDAQ COMPOSITE INDEX7887.25968-25.98-0.33%

On Wall Street, stocks snapped a four-day winning streak and fell Friday, despite a strong jobs report.

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The U.S. market still recorded the best week in eight months.

The Associated Press contributed to this article.