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Feb 13, 2020

US markets | Futures Indicator: US futures point to lower open on Wall Street

Holly Ellyatt



U.S. stock index futures are pointing to a lower open on Wall Street Thursday as investors continue to worry about the spread of the coronavirus and look ahead to a slew of earnings.
At around 1.45 E.T., Dow futures were down 115 points and indicated an implied negative open of more than 96 points, while futures on the S&P 500 and Nasdaq were also lower.
Investors continue to monitor news on the coronavirus outbreak, with China’s National Health Commission delaying the daily tally of new cases of the virus and death toll for a second day running. Figures published on Wednesday showed the nationwide death toll in the country from the coronavirus outbreak topped 1,100 as of Tuesday night.
China’s Hubei province reported an additional 242 deaths and 14,840 new cases as of February 12 after it changed its method of reporting cases. The province said it is starting to include “clinically diagnosed” cases in its figures and that 13,332 of the new cases fall under that classification.
Mobile World Congress, the world’s largest trade show for the mobile phone industry, was canceled Wednesday amid fears over the outbreak.
Earnings are also in focus for investors with Airbus, Kraft Heinz, Alibaba, Credit Suisse, Barclays, Nestle and PepsiCo all releasing earnings before the bell. Companies reporting after the bell include Nvidia, Expedia and Datadog.
Fed speeches by Dallas Fed President Robert Kaplan and New York Fed President John Williams on the economic outlook and monetary policy will also be of interest to markets.

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