Visitors wearing masks walk past Shanghai Disney Resort, that will be closed during the Chinese Lunar New Year holiday following the outbreak of a new coronavirus, in Shanghai, China January 24, 2020.
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8:19 am: Portion of yield curve briefly inverts
The 3-month Treasury bill yield briefly rose above the 10-year yield in the early morning hours New York time.The coronavirus has set off a stampede into 10-year Treasurys as investors seek a safe haven, and the yield touched a low of 1.57%. It was at 1.63% as stock futures rebound Tuesday morning from Monday’s selling. The inversion of the yield curve is sometimes an ominous sign of a coming recession, but the yield curve had inverted last year and steepened again as investors were cheered by improved trade relations between the U.S. and China.
8:17 am: Chip stocks rally after Huawei gets limited access to UK’s 5G networks
8:12 am: Coronavirus-related names rebound with the broad market
Travel companies affected by the deadly coronavirus are bouncing back along with the broad market after a deep sell-off since last week. Shares of Wynn Resorts, one of the hotel and casino stocks that took the hardest hit because of its Macau exposure, are up nearly 2% in premarket. Airlines Delta and United Airlines both climbed almost 1%, while Carnival Cruise Lines also rebounded 1.2%. Li
8:10 am: Stock futures rise as Wall Street tries to rebound from worst day in more than 3 months
Wall Street is trying to rebound from its worst session since October, with U.S. stock futures trading higher. Dow Jones Industrial Average futures are up more than 140 points, while S&P 500 and Nasdaq 100 futures pointed to solid opening gains. On Monday, the Dow dropped more than 450 points and wiped out its gains for the year as coronavirus fears deepened. But while futures pointed to a decent start, not everyone is ready to look past the coronavirus fallout. CNBC’s Jim Cramer said in a tweet: “I wouldn’t trust the market until the future are down, perhaps dramatically to flush out those who think the virus is unstoppable.” Imbert