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Wall Street To Edge Broadly Lower At Open

wallstreet feb10 lt

The fear of Corona virus outbreak continues to affect the market sentiments as there is no decline in death toll China. Deaths due to the new Corona virus has crossed SARS virus attack.

Asian shares finished mostly down, while European shares are trading in negative.

Early trends on U.S. Futures Index point to a broadly lower opening.

As of 8.00 am ET, the Dow futures were losing 19.00 points, the S&P 500 futures were losing 1.00 points and the Nasdaq 100 futures were slightly up 0.50 points.

The U.S. stocks finished lower on Friday. The Dow tumbled 277.48 points or 0.9 percent to 29,102.29, the Nasdaq slid 51.64 points or 05 percent to 9,520.51 and the S&P 500 fell 18.08 points or 0.5 percent to 3,327.70.

On the economic front, TD Ameritrade's Investor Movement Index for January will be issued at 12.30 am ET. In the prior month the level was at 5.55.

Six month and three-month Treasury Bill auctions will be held at 11.30 am ET.

In the corporate sector, Allergan Inc. reported a narrower net for the fourth quarter, while revenue increased from the prior year. Fourth quarter net loss attributable to shareholders was $317.2 million compared to $4.299 million in the prior year. On a per share basis, net loss narrowed to $0.97 from $12.83 in the previous year.

Revenue for the quarter rose to $4.351 billion from $4.079 billion a year ago.

Asian stocks fell broadly on Monday. Chinese shares advanced ease of travel restrictions helped to resume business.

The benchmark Shanghai Composite index rose by 14.52 points, or 0.51 percent, to 2,890.49, while Hong Kong's Hang Seng index shed 0.59 percent to finish at 27,241.34.

Japanese stocks fell notably. The Nikkei average fell 142 points, or 0.60 percent, to 23,685.98, while the broader Topix index closed 0.72 percent lower at 1,719.64.

Australian markets fell slightly on Monday. The benchmark S&P/ASX 200 index slid 10.10 points, or 0.14 percent, to 7,012.50, while the broader All Ordinaries index ended down 13.40 points, or 0.19 percent, at 7,108.

European shares are trading mostly down. Among the major indexes in the region, the CAC 40 Index of France is falling 21.33 points or 0.35 percent. The German DAX is losing 35.23 points or 0.26 percent, the U.K. FTSE 100 Index is declining 10.70 points or 0.14 percent. The Swiss Market Index is gaining 15.68 points or 0.14 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.30 percent.

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