The medical staff visit occupants in a hotel accommodating isolated people in Wuhan in central China’s Hubei province Monday, Feb. 03, 2020.
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8:33 am: Ford shares tank after disappointing earnings and weak guidance
Ford Motor’s stock plunged nearly 8% in premarket trading after the automaker said it lost $1.67 billion during the fourth quarter and missed Wall Street earnings expectations on increased pension contributions and higher North American warranty and labor costs. Ford also disappointed Wall Street with its earnings projections for 2020. It’s projecting full-year earnings of between 94 cents and $1.20 a share, or adjusted earnings before interest and taxes of $5.6 billion and $6.6 billion. Li
8:32 am: Nike shares under pressure on coronavirus concerns
Shares of Nike slipped 0.3% in premarket trading after the company said the fast-spreading coronavirus will have a “material impact” on its operations across China. Nike has closed half of its stores in China as the government tries to contain a new virus outbreak there. The stores that are opened are operating with reduced hours as they are “experiencing lower than planned retail traffic,” Nike said in a statement. Li
8:25 am: Stock futures point to sharp gains once again
Wall Street is set to build on the already sharp gains from this week, with futures pointing to another broad-market rally. Dow Jones Industrial Average futures are up more than 200 points. S&P 500 and Nasdaq 100 futures are pointing to strong gains as well. Reports of a potentially effective drug treatment for coronavirus lifted futures, but the WHO played down those reports, saying in a statement: “There are no known effective therapeutics against this 2019-nCoV.” Overall, investors are starting to bet the virus won’t affect the U.S. economy as badly as feared. A much better-than-expected jobs report from ADP and Moody’s Analytics also boosted equity futures. Imbert