Stock market live updates: Dow futures up 140, airlines rebound, Cramer's take

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© Provided by CNBC Visitors wearing masks walk past Shanghai Disney Resort, that will be closed during the Chinese Lunar New Year holiday following the outbreak of a new coronavirus, in Shanghai, China January 24, 2020.

8:17 am: Chip stocks rally after Huawei gets limited access to UK’s 5G networks

Britain said Tuesday it will allow Chinese telecom giant Huawei to play a limited role in its next generation 5G mobile networks, defying pressure from the U.S. The news sparked a rally in U.S. semiconductors that supply chips to their big customer Huawei. The VanEck Vectors Semiconductor ETF, which includes the top S&P 500 chipmakers, rose 1.5% in premarket. Micron and AMD are both up nearly 2%, while Nvidia, Broadcom and Qualcomm climbed 1% each in premarket.—Li

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8:12 am: Coronavirus-related names rebound with the broad market

Travel companies affected by the deadly coronavirus are bouncing back along with the broad market after a deep sell-off since last week. Shares of Wynn Resorts, one of the hotel and casino stocks that took the hardest hit because of its Macau exposure, are up nearly 2% in premarket. Airlines Delta and United Airlines both climbed almost 1%, while Carnival Cruise Lines also rebounded 1.2%. —Li

8:10 am: Stock futures rise as Wall Street tries to rebound from worst day in more than 3 months

Wall Street is trying to rebound from its worst session since October, with U.S. stock futures trading higher. Dow Jones Industrial Average futures are up more than 140 points, while S&P 500 and Nasdaq 100 futures pointed to solid opening gains. On Monday, the Dow dropped more than 450 points and wiped out its gains for the year as coronavirus fears deepened. But while futures pointed to a decent start, not everyone is ready to look past the coronavirus fallout. CNBC’s Jim Cramer said in a tweet: “I wouldn’t trust the market until the future are down, perhaps dramatically to flush out those who think the virus is unstoppable.” —Imbert

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