BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.S. is looking ahead to the 'hardest and the saddest' week as the novel coronavirus is spreading like anything. The infection has spread to more than 1.27 million people across the globe and killed over 69,000 people. The U.S. has reported nearly 10,000 deaths and a shortage of protective equipment and hospital facilities are a real challenge in winning the epidemic. Investors are much concerned about the situation; however reduction in the number of new COVID-19 cases in hardly hit Italy and Spain is adding hope. On Monday, the Markets were trying for a comeback after several disappointing days.
Asian shares finished mostly higher, while European shares are trading positive. Early cues from the U.S. Futures Index suggest that Wall Street might open significantly positive.
As of 8.10 am ET, the Dow futures were gaining 727.00 points, the S&P 500 futures were up 87.00 points and the Nasdaq 100 futures were adding 272.00 points.
The U.S. major averages ended Friday's session firmly in negative territory. The Dow tumbled 360.91 points or 1.7 percent to 21,052.53, the Nasdaq plunged by 114.23 points or 1.5 percent to 7,373.08 and the S&P 500 slumped 38.25 points or 1.5 percent to 2,488.65.
On the economic front, TD Ameritrade's Investor Movement Index or IMX for March will be published at 12.30 pm ET. In the prior month, the IMX was 5.16.
Asian stocks finished broadly higher on Monday. The markets in China and Thailand were closed for the Qingming Festival and Chakri Day, respectively. Hong Kong's Hang Seng index rose 2.21 percent to 23,749.12.
Japanese markets rallied. The Nikkei average jumped 756.11 points, or 4.24 percent, to 18,576.30, while the broader Topix index closed 3.86 percent higher at 1,376.30. Australian markets soared. The benchmark S&P/ASX 200 index jumped 219.30 points, or 4.33 percent, to 5,286.80, while the broader All Ordinaries index ended up 216.70 points, or 4.24 percent, at 5,323.60.
European shares were trading higher. Among the major indexes in the region, the CAC 40 Index of France is up 149.22 points or 3.58 percent. The German DAX is progressing 449.26 points or 4.71 percent, the U.K. FTSE 100 Index is gaining 116.11 points or 2.14 percent.
The Swiss Market Index is adding 163.81 points or 1.78 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 4.00 percent.
Copyright RTT News/dpa-AFX