A day after the S&P 500 suffered its worst day in nearly four months, U.S. stocks are set to recover on Tuesday, after fears that a coronavirus outbreak could hit global economic growth were assuaged by the head of the World Health Organization.
Markets across the world stabilized as the head of the World Health Organization said he was confident in China’s ability to contain the virus outbreak that has killed 106 people, prompted businesses to close operations and curbed travel.
U.S. economy and markets are not susceptible to a major slowdown due to the virus outbreak because they are more domestically focused, but share prices could falter in the near-term, Citi analyst Tobias Levkovich said in a note.
Investors will keep a close watch on Apple Inc results, due after markets close… Its shares were up 1% in premarket trading after falling about 3% on Monday amid a broad-based pullback in U.S. stocks.
MacDailyNews Note: Good news.
People tend to fear the worst. It almost never happens. – MacDailyNews, May 14, 2019
As always, as soon as Apple reports earnings, we’ll have them for you right around 4:30pm ET. Following shortly thereafter, we’ll have live notes during Apple’s conference call with analysts starting at 5pm EDT. Check our home page starting at 4:30pm ET for the results and around 4:45pm for the link to live conference call coverage.