U.S. stock futures signal stronger start on Wall Street
Futures markets pointed to a higher start for U.S. stocks Wednesday, with investors showing confidence in efforts by Chinese authorities to contain the outbreak of a deadly flu-like virus which has spread to other countries.
What’s driving the market? Major stock indexes finished lower on Tuesday, pulling back from records seen last week, after a U.S. citizen who had recently returned from a trip to central China was diagnosed with the new virus that’s raised worries over a potential pandemic. However, analysts said recent updates from Chinese authorities had provided investors with some comfort the outbreak will be contained and a pandemic which could slow economic growth will be avoided.
Chinese officials said hospitals are stepping up preventive measures and moving to discourage movement into and out of Wuhan, the central Chinese city where the virus originated, The Wall Street Journal reported. Oil-field-services provider Baker Hughes Co. BKR, -3.73% reported profit and revenue that came in short of consensus estimates.
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