(RTTNews) – Initial signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mixed, while European shares are trading down.

The rage of coronavirus pandemic across the globe is worrying investors.
As of 8.15 am ET, the Dow futures were down 433.00 points, the S&P 500 futures were sliding 43.50 points and the Nasdaq 100 futures were declining 222.75 points.

The U.S. Futures Index closed higher on Thursday. The Nasdaq surged up 159.00 points or 1.4 percent to 11,326.51, its best closing level in nearly a month. The Dow posted a more modest gain, inching up 35.20 points or 0.1 percent to 27,816.90, while the S&P 500 climbed 17.80 points or 0.5 percent at 3,380.80.

On the economic front, the Labor Department’s Employment Situation report for September will be revealed at 8.30 am ET. The consensus for non-farm payrolls was 894,000, while it was 1,371,000 in the previous month. The consensus for unemployment rate is 8.2 percent, while it was up 8.4 percent in August.

The Michigan University’s Consumer Sentiment for September will be issued at 10.00 am ET. The consensus is for 79.0, while it was 78.9 in the prior month.

The Commerce Department’s Factory Orders for August will be released at 10.00 am ET. The consensus is for an increase of 1.0 percent, while it grew 6.4 percent in July.
The Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America Rig Count was 332 and the U.S. Rig Count was 261.

Philadelphia Federal Reserve Bank President Patrick Harker will speak about “Inclusive Workforce Recovery” at “A New Kind of Back to Work: Talent, Recovery, and the Future of Greater Philadelphia” webinar event at 9.00 am ET.

Minneapolis Federal Reserve Bank President

But the news immediately spooked investors. Futures tied to the Dow Jones industrial average “indicated an opening loss of more than 400 points, recovering a bit after earlier trading down more than 500 points. S&P 500 futures and Nasdaq 100 futures were also in negative territory,” CNBC’s Eustance Huang and Pippa Stevens report.

The development throws a major unknown into the election at a time when uncertainty over voting and its outcome already has been weighing on investor sentiment. “Market sentiment was already delicately balanced ahead of the November election, and today’s news only adds to the uncertainty,” Karen Ward, chief market strategist for EMEA at J.P. Morgan Asset Management, told Bloomberg’s Yakob Peterseil. But, she said, “with such a wide range of outcomes and implications stemming from the President’s diagnosis, it’s too soon to ascertain what the final market direction will be.”

The market’s record suggests investors quickly absorb and move past history-bending shocks. 

As we wrote here in January, when the market shrugged off threats of a briefly threatened conflict with Iran, “Twenty days after President John F. Kennedy’s assassination, for example, the S&P 500 was up 6.3 percent,” according to data from Strategas technical analyst Todd Sohn. “It was up 9.7 percent after the same interval following the 1987 stock market crash; 5.3 percent after the bombing of the USS Cole; 4.9 percent after the Sept. 11, 2001, terrorist attacks; and 6.4 percent after the Brexit referendum.”

Here’s another look at how quickly the market rallied back from some defining disruptions of the last 80 years, via of LPL Financial:

In this case, in the immediate term at least, the development could prove more vexing, since it injects a host of unknowns not only into the election but the country’s governance as well. Per the

US futures sank with most Asian and European equities Friday after Donald Trump announced he and his wife had tested positive for coronavirus, throwing fresh uncertainty into the presidential election.

The news compounded the downbeat mood on trading floors, where investors were already feeling pessimistic over US lawmakers’ failure to pass a new stimulus bill.

“Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!” Trump tweeted in the early hours.

The president had taken a test after his close White House aide Hope Hicks had tested positive earlier in the day, meaning he will now have to go into quarantine just weeks before one of the most crucial elections the country has ever had.

His doctor Scott Conley said the couple intended to stay at the White House “during their convalescence”.

“Rest assured I expect the president to continue carrying out his duties without disruption while recovering, and I will keep you updated on any future developments,” he added.

The White House cancelled a planned campaign rally in the crucial swing state of Florida on Friday, and 32 days before the November 3 vote against Democrat Joe Biden, it also looked certain Trump would have to cancel a slew of other trips scheduled for this weekend and next.

The news sent Dow futures tumbling 1.9 percent, while the S&P 500 shed 1.9 percent. Safe-haven assets also rallied, with the Japanese yen — a go-to in times of turmoil and uncertainty — rose to 105 per dollar, from 105.60 earlier in the day.

The greenback climbed against higher-yielding currencies including the Australian dollar and South Korean won, while gold jumped more than one percent and oil prices continued their downward spiral.

Japan’s Nikkei sank 0.7 percent, reversing

Text size

President Donald Trump and first lady Melania Trump walk to board Air Force One to travel to the first presidential debate in Cleveland, on Sept. 29, 2020, in Andrews Air Force Base, Md.


Associated Press

U.S. and European equity futures fell sharply in a risk-averse Friday, with investors rattled by news that President Donald Trump has tested positive for coronavirus just a month ahead of the presidential election.

Dow Jones Industrial Average futures fell over 300 points, or 1%, with similar percentage drops for S&P 500 futures, while Nasdaq-100 futures were down 1.4%. Wall Street stocks wavered on Thursday, with the Dow Industrials closing barely positive and the S&P and Nasdaq Composite rising 0.5% and 1.45% higher, respectively.

The Stoxx Europe 600 fell 1%, with the German DAX dropping 1.3%. Several Asian markets were closed for holidays.

“Tonight, @FLOTUS and I tested positive for Covid-19. We will begin our quarantine and recovery process immediately,” Trump said on Twitter in the early hours of Friday. First lady Melania Trump said that she and the president were ”feeling good.”

Trump’s positive coronavirus test came hours after news that close senior aide Hope Hicks, who had been traveling with him this week, had contracted the virus. Trump’s age, 74, puts him in a potentially higher risk category for complications. The death toll in the U.S. stands at over 200,000.

The news comes just over a month ahead of the U.S. presidential election—Democratic rival Joe Biden has been holding a comfortable lead in the polls. Biden’s lead in betting markets rose after a chaotic debate with Trump earlier in the week.

“The reaction of equity futures was to fall by around 1% for the S&P500. Given that a Republican administration would have been superficially seen as more supportive than Democratic one, the

TOKYO/WASHINGTON (Reuters) – U.S. stock futures dipped on Friday after President Donald Trump said he and his wife will quarantine after a close aide tested positive for the coronavirus.

FILE PHOTO: Traders work inside posts, on the first day of in-person trading since the closure during the coronavirus disease (COVID-19) outbreak on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid

Futures for the S&P 500 ESc1 fell 0.39% in Asian trading after the nwes, extending earlier losses, while Treasury yields remained broadly unchanged.

The U.S. dollar held steady against most currencies, but it rose against the Australian and New Zealand dollars in a sign of risk aversion.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.15%. Australia’s S&P/ASX 200 index .AXJO fell 0.68% as a decline in oil and copper prices weighed on the resources sector.

Japan’s Nikkei 225 index .N225 was up 0.15% after the Tokyo Stock Exchange (TSE) resumed normal trading after its worst-ever outage brought the world’s third-largest equity market to a standstill.

Trump said on Twitter that he and his wife had been tested for coronavirus after Hope Hicks, a senior advisor who recently traveled with the president, tested positive.

If Trump also tested positive, that could cause a new wave of market volatility as investors brace for a hotly-contested presidential election in November.

“It depends on how serious this becomes, and whether or not Trump is actually infected,” said Masayuki Kichikawa, chief macro strategist at Sumitomo Mitsui Asset Management.

“The most important thing is we were already worried about an uncertain outcome from the election, and this adds to the uncertainty.”

In addition, a spate of data, including jobless claims and consumer spending, suggested that the plodding