Stocks are coming off a major rally on Tuesday fueled by hopes the coronavirus risk is leveling.
Stock futures were flat in overnight trading following a big rally in the previous session fueled by optimism that the coronavirus outbreak is improving in the U.S.
The tech heavy Nasdaq Composite rose 4%, led by Amazon, which notched an all-time high as investors bet on increased demand amid the nationwide shutdown. The Nasdaq is less than 14% from its 52- week high on February 19. Still, the dismal earnings ahead from U.S. companies grappling with the coronavirus shutdown could spook investors. Analysts expect S&P 500 earnings growth to decline 10.2% in the first quarter year-over-year, according to Refinitiv.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here's what happened to the stock market on TuesdayStocks got a boost as investors cheered the apparent progress on the coronavirus front.
Read more »
Investors are scouting an unlikely corner of the stock market: Indian private sector banksBig bank stocks in India are falling like nine pins. Some investors believe that the gloominess might be overdone.
Read more »
Stocks Fall as Investors Digest Oil DealS&P 500 futures retreated more than 1%, as investors weighed the impact of an agreement to withhold a record amount of crude from markets, with global demand weakened by the coronavirus pandemic.
Read more »
Oil agreement could support stocks, providing a floorAn agreement by oil producing nations to cut output by a record amount may sustain a recent bounce in stocks, though stay-at-home restrictions and closures tied to the coronavirus pandemic continue to weigh on the global economy.
Read more »