US stocks set to open higher after Dow posts worst day since October

U.S. stock index futures were higher on Tuesday morning after the Dow posted its worst trading day in about three months.

At around 4:20 a.m. ET, Dow futures were up by 57 points, indicating a positive open of more than 49 points. Futures on the S&P 500 and Nasdaq were also higher.


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Global investors have been concerned over the impact of the coronavirus on the economy, as the number of cases worldwide keeps rising. In this context, U.S. equities dropped on Monday, with the Dow falling by 1.6%, its biggest one-day drop since October. Shares of travel companies and consumer goods firms exposed to China were some of the biggest losers.

Meanwhile, Chinese authorities said Tuesday that the outbreak has killed 106 people and infected 4,515.

In other market news, 3M, Pfizer and Xerox are due to report before the bell. Apple, Alaska Air, Starbucks and eBay are due to update investors after the bell.

On the data front, durable goods are set to be out at 8:30 a.m. ET. Consumer confidence figures alongside the Richmond and Dallas Fed surveys are expected at 10 a.m. ET.


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Source: cnbc.com | Original Link

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