Stock market news live: Stocks futures recover slightly after worst day since October - Yahoo Finance

Global equities were up slightly Tuesday morning, steadying after fears over the deadly coronavirus in China sent the S&P 500 to its worst one-day drop since October on Monday.

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7:45 a.m. ET: Britain to allow Huawei some access to country’s 5G networks

The UK designated Chinese telecommunications giant Huawei a “high-risk vendor” but will allow the company to build out non-core elements of the country’s 5G network, the UK government announced Tuesday.

Britain will cap Huawei at obtaining just a 35% share of 5G infrastructure in the country, the government added in the statement. It will also ban the company from operating at sensitive locations including nuclear sites and military bases, and from participating in “core” functionality of the network.

The decision comes as the U.S. last year attempted to block the firm from many overseas markets, with Washington having designated the telecommunications company a national security risk with equipment that could be used to spy for China. Huawei has denied any ties to China’s government.

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7:31 a.m. ET: U.S. stock futures point to slightly higher open

Domestic equity futures looked to open higher Tuesday morning and recover some of Monday’s steep losses, which came as fears over the coronavirus escalated.

The coronavirus has so far killed 106 individuals in China, while more than 4,500 other cases have been confirmed. Companies including Starbucks (SBUX) and WeWork were among the latest to shut locations in China as the death toll from the virus climbed.

Separately, Tuesday’s session is poised to brings a number of potentially market-moving corporate earnings results and economic data reports The Census Bureau releases its preliminary print on December durable goods orders at 8:30 a.m. ET, giving market participants a pulse on the health of the manufacturing sector at the end of last year. And Apple (AAPL) and Advanced Micro Devices (AMD) are poised to deliver quarterly earnings results after market close.

Here were the main moves during the pre-market session, as of 7:31 a.m. ET:

• S&P futures (ES=F): 3,257.75, up 18.25 points or 0.56%

• Dow futures (YM=F): 28,612.00, up 131 points or 0.46%

• Nasdaq futures (NQ=F): 9,023.75, up 69.25 points or 0.77%

• Crude oil (CL=F): $53.24 per barrel, up $0.10 or 0.19%

• Gold (GC=F): $1,573.00 per ounce, down $4.40 or 0.28%

NEW YORK, NEW YORK - JANUARY 27: Traders work on the floor of the New York Stock Exchange (NYSE) on January 27, 2020 in New York City. U.S. stocks fell sharply in morning trading as fears over the spreading coronavirus continue to unsettle global markets. The Dow Jones Industrial Average fell over 400 points after the Opening Bell. (Photo by Spencer Platt/Getty Images)

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Stock market news live: Stocks futures recover slightly after worst day since October - Yahoo Finance
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