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Stock futures were lower in early trading Wednesday following a big rally in the previous session fueled by optimism that the coronavirus outbreak is improving in the U.S.
Dow futures fell, indicating a loss of about 350 points at the open on Wednesday. The S&P 500 and Nasdaq were also slated to open in the red.
Signs that the coronavirus pandemic is easing drove stocks higher on Tuesday, even as the first batch of quarterly earnings showed the outbreak is taking a toll on corporate profits. The Dow climbed about 560 points, helped by Johnson & Johnson, Microsoft, and Apple which rose 4.5%, 4.9%, and 5%, respectively. The S&P 500 also registered a significant gain, rising more than 3%.
Source : CNBC