Opening Bell: U.S., Global Stocks Hit New Records; Oil Struggles, Gold Slips

Monday’s S&P 500, NASDAQ records set bullish momentum WHO warns current coronavirus death tolls could be “tip of the iceberg” WTI struggles to remain above the psychological $50 level Key Events

Equity futures for the , and , along with global stocks, are following U.S. markets higher after yesterday’s record-filled Wall Street performance. The gains—in defiance of continued grim news about the coronavirus epidemic—are being fueled by stronger than expected earnings results and solid signs of strength in the U.S. economy.

Yields jumped and fell as investors shifted out of safe havens to head exuberantly back into risk assets. As well, markets await commentary later today from Fed chief Jerome Powell as he begins two days of in front of the U.S. Congress.

Global Financial Affairs

This morning, contracts for all four major U.S. indices are building on the strength of yesterday’s gains for their underlying benchmarks.

SPX Futures Daily

S&P 500 futures are struggling against the Feb. 6 all-time highs.

Mining shares and carmakers, as well as strong numbers from tourism and travel company Tui AG NA (DE:), helped catapult the to on Tuesday.

Stoxx 600 Daily

The index formed an upside breakaway gap as it cleared the resistance line in place since the mid-January highs.

Earier this morning in Asia, South Korea’s and Hong Kong’s each rose by at least 1% and China’s posted gains for a sixth day, even as the coronavirus spread continued. With more than 43,000 cases of the flu-like illness reported worldwide, and the number of fatalities now above 1,000, World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus warned that the death toll may be just “the tip of the iceberg.”

The total 5.5% rally for China’s major index follows the 7.7% drop that was halted after the

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