Dow Jones Industrial Average futures added 45 points, suggesting an open gain of 43 points when regular trading resumes on Wednesday. S&P 500 futures pointed to a gain of 0.15% while Nasdaq-100 futures indicated an opening advance of about 0.2%.
A powerful earthquake of magnitude 7.4 struck the coast of southern Mexico on Tuesday, killing at least one person, buckling paved roads, and setting off a tsunami in nearby Pacific coastal areas.
One person died in the state of Oaxaca, Governor Alejandro Murat said, after the quake hit the Pacific coastal state mid-morning.
Singapore’s Prime Minister Lee Hsien Loong on Tuesday said he has decided to call a general election in the middle of the coronavirus outbreak.
Following Lee’s announcement, the prime minister’s office said the country’s President Halimah Yacob has dissolved parliament and that nomination day will be on June 30.
The Elections Department said Singaporean voters will head to the polls on July 10.
Speculation of a looming general election has mounted in recent weeks as the Southeast Asian country earlier this month started to lift restrictions put in place to curb the spread of the coronavirus.
The final day of June is a week away, and Wall Street is already speculating that there’s the potential some asset allocators, like pension funds, could take the big gains from the stock market and move them into bonds.
There’s a wide range of views about how much selling could hit the stock market, but some strategists say the resulting market move may not be that big after all because of prior selling and action in the derivatives market.
“The charts suggest that new highs could be on the table,” CNBC’s Jim Cramer.
A chart analyst sees a scenario where the S&P 500 runs 9% from Thursday’s close to a new high near 3,400.
“The next ceiling of resistance is around 3,250, if we can clear that hurdle, Garner believes it’s smooth sailing to that high,” the “Mad Money” host said.
As many U.S. states continue to lift coronavirus lockdown restrictions, some are pausing their reopenings in the face of worrisome data around new cases and hospitalizations. States like Texas, Arizona and Arkansas have seen a surge in infections, calling into question aggressive reopening strategies.
U.S. hospitals are lobbying Washington for a $100 billion stabilization fund to help ramp up capacity and buy necessary supplies.
At Mount Sinai Health System’s Morningside hospital in New York City, the number of coronavirus patients at the 500-bed facility doubled in two days this week.
New York-Presbyterian Hospital warned its debt holders this week that the financial toll of its emergency response will be steep.
Some nations are still against the idea of raising new debt, Karel Lannoo, chief Executive of CEPS think tank, told CNBC Monday over the phone.
A second hurdle is how to calculate the distribution of funds.
The 27 heads of state will discuss the 750 billion euro plan next week, but this is expected to be a preliminary meeting with another high-level discussion needed in the summer months.
The S&P 500 slid 0.3% to 3,112.35 while the Nasdaq Composite dropped 0.7% to 9,615.81. It was the first decline in five sessions for both indexes. The Dow Jones Industrial Average closed just above the flatline, advancing 11 points, or 0.1%, to 26,281.82.
CDC Director Robert Redfield said Thursday that he’s “very concerned” the agency’s public health message on the coronavirus isn’t “resonating” with the public as the number of cases continues to rise across the U.S.
Testifying before the House Appropriations Committee, Redfield said he sees “a lot of people” not wearing masks in Washington, D.C., where he works.
While cases have slowed in hot spots such as New York state, the U.S. is still seeing roughly 20,000 new Covid-19 cases a day.
