Stock market news live: Stock futures rise, following global equities higher

U.S. stock futures rose Wednesday morning after a mixed session a day prior. The number of cases and death toll from the coronavirus continued to rise, albeit at an apparently decelerating pace. Later in the session, the Federal Reserve will release minutes from its January meeting.

7:37 a.m. ET: Stock futures drift higher in early trading

U.S. stock futures were higher Wednesday morning. The S&P 500 and Dow looked to recover some of Tuesday’s losses spurred after Apple abandoned its March quarter sales guidance due to supply chain and demand impacts due to the coronavirus.

As of Wednesday, the death toll from the coronavirus exceeded 2,000, and the number of reported cases was more than 75,000 globally, according to data from the European Center for Disease Prevention and Control.

Companies including athletic-wear makers Adidas and Puma were some of the latest corporations to call out the impact of the coronavirus to their businesses.

Amid the disruptions, China has been using stimulus measures to help soften the blow of the coronavirus on its domestic industries. Based on a Bloomberg report, the country is considering tactics including direct cash infusions and mergers to help boost its domestic airline industry, as flight cancellations and reduced travel roil the industry. Such a move would add to stimulus China’s central bank unleashed on Monday, with the People’s Bank of China having cut its medium-term lending facility to boost borrowing and lending in the outbreak-stricken economy.

Here were the main moves during the pre-market session, as of 7:37 a.m. ET:

  • S&P 500 futures (ES=F): 3,378.00, up 8.75 points or 0.26%

  • Dow futures (YM=F): 29,286.00, up 75 points or 0.26%

  • Nasdaq futures (NQ=F): 9,671.75, up 35.75 points or 0.37%

  • Crude oil (CL=F): $52.75 per barrel, up $0.70 or 1.34%

  • Gold (GC=F): $1,611.40 per ounce, up $7.80 or 0.49%

Traders work at the New York Stock Exchange (NYSE) in New York, U.S., February 4, 2020. REUTERS/Bryan R Smith

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