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8:58am ET, 4/07/2020 - Wall Street Sees Another Round of Gains on COVID-19 Slowdown
US stocks were set for another round of gains Tuesday on continued optimism that the spread of the COVID-19 pandemic is slowing in some key epicenters, including New York.

Dow futures rose 3.2%, S&P futures increased 2.8% and Nasdaq futures gained 2.6%.

On Monday, New York Governor Andrew Cuomo said that daily coronavirus deaths in America's hardest-hit state have been "effectively flat" for two days.

Oil prices nudged higher, with global benchmark Brent crude up 2% recently and US West Texas Intermediate crude up 1.7% recently, on expectations that major producers will agree on deeper output cuts.

At 10 am, data are expected to show job openings based on the Labor Department's JOLTS report coming in at 6.638 million for February versus 6.963 million in the previous month, according to Econoday.

In equities, shares of Gannett (GCI) were 92.9% higher pre-bell after the company said it has adopted a shareholder rights plan, also known as a poison pill, to protect its tax assets from a change in control.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 3.2%

-S&P 500 futures up 2.8%

-Nasdaq 100 futures up 2.6%

GLOBAL SENTIMENT

Nikkei up 2%

Hang Seng up 2.1%

Shanghai Composite up 2.1%

FTSE-100 up 2.6%

DAX-30 up 3.4%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: unchanged to higher

(+) Chip stocks: unchanged to higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Oil stocks: mixed

(+) Biotech stocks: unchanged to higher

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+) Retail stocks: unchanged to higher

(+) Industrial stocks: unchanged to higher

(+) Airlines: higher

(+) Autos: unchanged to higher

UPSIDE MOVERS

(+) NIO (+10.9%) Reports sequential increase in March deliveries

(+) BA (+7.8%) To repeat unmanned test flight of Starliner spacecraft

(+) M (+11.6%) CFO to step down in May

(+) CY (+1.5%) Deal with Infineon secured Chinese antitrust clearance

DOWNSIDE MOVERS

(-) XSPA (-3.5%) Prices $3.1 million registered direct offering

8:02am ET, 4/07/2020 - US Futures Surge on COVID-19 Slowdown
US stock futures jumped higher for a second consecutive session Tuesday on continued optimism that the spread of the COVID-19 pandemic is slowing in some key epicenters, including New York.

Dow, S&P and Nasdaq futures all rose above 3%.

On Monday, New York Governor Andrew Cuomo said that daily coronavirus deaths in the America's hardest-hit state have been "effectively flat" for two days.

Oil prices nudged higher, with global benchmark Brent crude up 1.4% recently and US West Texas Intermediate crude up 1.5% recently, on expectations that major producers will agree on deeper output cuts.

At 10 am, data are expected to show job openings based on the Labor Department's JOLTS report coming in at 6.638 million for February versus 6.963 million in the previous month, according to Econoday.

In equities, shares of Gannett (GCI) were 48.4% higher pre-bell after the company said it has adopted a shareholder rights plan, also known as a poison pill, to protect its tax assets from a change in control.

7:23am ET, 4/07/2020 - ADR Top % Movers in Pre-Market Trading
ADR Top % Movers in Pre-Market Trading

Gainers

CUK +20%

CS +5.1%

STM +4.7%

NOK +2.9%

BBL +1.8%

RIO +1.8%

HSBC +1.1%

TOT +0.5%

BP +0.2%

Losers

GSK -1%

Price: 11.07, Change: +1.73, Percent Change: +18.52

7:17am ET, 4/07/2020 - Wall Street Leans Forward Pre-Bell; Futures Green, Europe Higher, Asia Up
Wall Street pre-bell Tuesday is leaning forward, with US stock market index futures pointing to an opening bell up perhaps 3.2% from Monday's close. European bourses are trading higher, and Asian exchanges closed solidly in the green on reports of a slowing COVID-19 pandemic. Despite market optimism, the virus has infected 1.36 million globally and left 75,945 dead, as reported by Johns Hopkins University. In the US, there have been 368,449 cases and 10,993 dead. UK Prime Minister Boris Johnson is in ICU on COVID-19 illness. Kraft Heinz (KHC) is up pre-bell on stronger sales of prepared foods. Bitcoin trades at $7,408, oil trades for $27.07, and 10-year US Treasuries offer 0.68%.

On the economic calendar at 10 am is the JOLTS, or Jobs Openings and Labor Turnover Survey, for February. At 3 pm the Federal Reserve releases its consumer credit report, also for February.

Lindsay (LNN) reports earnings pre-bell, among others.

In the futures, the S&P 500 is up 3.2%, the Nasdaq is up 3.0% and the Dow Jones is up 3.6%

In Europe, the British FTSE 100 is up 2.9%, the French CAC is up 3.3%, and the German DAX is up 4.0%.

Asian stock markets generally rallied Tuesday, after overnight gains on Wall Street and reports of slowing rates of new COVID-19 infections across Europe and North America. Hong Kong, Shanghai and Tokyo all posted increases near 2%, while other regional exchanges finished in the green, except Sydney. Mumbai's Sensex was up 8.7% after a Monday holiday.

In Japan, the Nikkei 225 see-sawed, opening higher after overnight Wall Street gains, then sinking into negative territory midday, but recovering in the afternoon to finish up 2.0%. Investors became buyers on the better outlook for the COVID-19 pandemic, and US futures markets indicating Wall Street would open higher again, said analysts. Japan has reported 3,906 cases and 92 dead, in a nation of 127 million residents. Facing mounting COVID-19 cases, Prime Minister Shinzo Abe declared a state of emergency for Tokyo, Osaka and five other prefectures, effective through May 6.

The Nikkei 225 gained 373.88 to 18,950.18 as gaining issues outnumbered losers 195 to 38.

Leading the upside were chip-testing equipment-maker Advantest (ATEYY, 6857:Tokyo), up 12.7%, followed by ball-bearing maker Minebea Mitsumi (MNBEY, 6479:Tokyo), up 8.6%, and then house-builder Daiwa House (DWAHY, 1925;Tokyo), up 8.4%.

On the downside were chemical-concern Denka (DENKF, 4061:Tokyo), off 7.6%, and then Fujifilm (FUJIY, 4901:Tokyo), off 6.5%.

In other news, Japanese households are glum on the economic outlook, the Bank of Japan reported. Its quarterly central bank survey and index for March, gauging household sentiment on the economy a year from now, posted at negative 42.2, down from negative 32.6 in December. It marked a low point for the index since 2008, and the global financial crisis.

The Hong Kong Hang Seng Index opened higher after overnight Wall Street gains, wobbled but finished up 2.1%, as investors mulled an improving COVID-19 outlook and additional stimulus from mainland China's People's Bank of China.

The Hang Seng rose 504.17 to 24,253.29, as gaining issues outnumbered losers 49 to one.

Leading the upside were Macau gaming-house Galaxy Entertainment (27:HK), up 7.4%, followed by confectioner Want Want China (151:HK), up 7.1%, and then pork-purveyor WH Group (288:HK), up 6.0%.

On the downside was Hang Seng Bank (11:HK), off 10%, and then gaining less than the rest was PetroChina (857:HK), up 0.3%.

On the mainland, the Shanghai Composite rose 2.0% to 2,820.76.

In mainland China, businesses can cut or even stop contributions to provincial pension funds, under current COVID-19 conditions, reported the South China Morning Post. However, such funds are already stressed by rising numbers of aged, and could run out of money by 2035.

On the other exchanges, the S. Korean Kospi rose 1.8%; the Taiwan TWSE inclined 1.8%; the Australian ASX 200 lost 0.7%; the Singapore Straits Times Index rose 4.1%, and the Thai Set inclined 6.7%.

6:52am ET, 4/07/2020 - Asian Stock Markets Extend Rallies on Slowing Pandemic, Wall Street Gains
Asian stock markets generally rallied Tuesday, after overnight gains on Wall Street and reports of slowing rates of new COVID-19 infections across Europe and North America. Hong Kong, Shanghai and Tokyo all posted increases near 2%, and other regional exchanges finished in green, except for Sydney. Mumbai's Sensex surged 9% after a Monday holiday. Despite market optimism, the COVID-19 pandemic is hardly over as the virus has infected 1.35 million people worldwide, and has killed 75,945, according to data compiled by Johns Hopkins University.

In Japan, the Nikkei 225 seesawed, opening higher after overnight Wall Street gains, then sinking into negative territory midday before recovering to finish up 2%. Investors became buyers on the better outlook for the COVID-19 pandemic, and as US futures markets indicated Wall Street would open higher again, said analysts. Facing mounting COVID-19 cases, Prime Minister Shinzo Abe declared a state of emergency for Tokyo, Osaka and five other prefectures, effective through May 6. Japan has reported 3,906 cases and 92 dead in a nation of 127 million residents.

The Nikkei 225 gained 373.88 to 18,950.18 as gaining issues outnumbered losers 195 to 38.

Leading the upside was chip-testing equipment maker Advantest (ATEYY, 6857:Tokyo), up 12.7%, followed by ball bearing maker Minebea Mitsumi (MNBEY, 6479:Tokyo), up 8.6%, and house builder Daiwa House (DWAHY, 1925;Tokyo), up 8.4%.

On the downside were chemical concern Denka (DENKF, 4061:Tokyo), off 7.6%, and then Fujifilm (FUJIY, 4901:Tokyo), off 5.5%.

In other news, Japanese households are glum on the economic outlook, the Bank of Japan reported. Its quarterly central bank survey and index for March, gauging household sentiment on the economy a year from now, posted at negative 42.2, down from negative 32.6 in December. It marked a low point for the index since 2008 and the global financial crisis.

The Hong Kong Hang Seng Index opened higher after overnight Wall Street gains, wobbled but finished up 2.1%, as investors mulled an improving COVID-19 outlook and additional stimulus from mainland China's People's Bank of China.

The Hang Seng rose 504.17 to 24,253.29, as gaining issues outnumbered losers 49 to one.

Leading the upside was Macau gaming house Galaxy Entertainment (27:HK), up 7.4%, followed by confectioner Want Want China (151:HK), up 7.1%. Pork purveyor WH Group (288:HK) rose up 6% and PetroChina (857:HK) edged up 0.3%.

On the downside, Hang Seng Bank (11:HK) dropped 1%.

On the mainland, the Shanghai Composite rose 2.1% to 2,820.76.

In mainland China, businesses can cut or even stop contributions to provincial pension funds, under current COVID-19 conditions, reported the South China Morning Post. However, such funds are already stressed by rising numbers of aged and could run out of money by 2035.

On the other exchanges, the S. Korean Kospi rose 1.8%; the Taiwan TWSE inclined 1.8%; the Australian ASX 200 lost 0.7%; the Singapore Straits Times Index rose 4.1%, and the Thai Set inclined 6.7%.