Global shares rise following Wall St. rebound
Stocks rising ahead of State of the Union and despite delay in Iowa caucus results
U.S. equity futures are pointing to another day of gains, ahead of President Trump's State of the Union address and despite problems with a mobile app appeared to force a delay in reporting the results of the Iowa caucuses Monday.
The major futures indexes are indicating a rise of 1 percent, or around 300 points added to the Dow, when trading begins on Tuesday.
Markets were still far from giving the all-clear on the coronavirus outbreak that has spread to more than 20 countries and killed more than 400 people.
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Japan's Nikkei gained 0.5 percent, the Hang Seng in Hong Kong climbed 1.2 percent and China's Shanghai Composite ended up 1.3 percent.
In Europe, London's FTSE rising 1.4 percent, Germany's DAX added 1.2 percent and France's CAC gained 1.3 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43411.33 | -33.66 | -0.08% |
| SP500 | S&P 500 | 5875.29 | +4.67 | +0.08% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18715.48708 | +35.37 | +0.19% |
U.S. stocks recovered some of their losses from earlier weeks, though a warning signal of recession in the bond market was still flashing red. and oil tumbled on worries about weakened demand.
The S&P 500 rose 0.7 percent, the Dow Jones Industrial Average picked up 0.5 percent and the Nasdaq added 1.3 percent.
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Markets have been wracked by uncertainty over how much the virus will spread, how many it might kill and how long the outbreak might persist, hurting economies and corporate profits.
Some major companies have closed factories in central China, airlines have cancelled hundreds of flights and economists are cutting growth forecasts for the world’s second-largest economy.
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Benchmark U.S. crude gained 38 cents to $50.48 per barrel in electronic trading on the New York Mercantile Exchange. It tumbled $1.45, or 2.8%, on Monday to settle at $50.11 per barrel on worries about demand.
The Associated Press contributed to this article.