Stock market news live: Stock futures fall, coronavirus cases near 10,000 - Yahoo Finance

Stock market news live: Stock futures fall, coronavirus cases near 10,000

The escalating spread of the coronavirus rattled global markets for another session, sending risk assets tumbling as investors assessed the current and future damage from the virus.

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9:05 a.m. ET: Exxon Mobil, Chevron shares fall after oil majors post mixed results

Exxon Mobil and Chevron posted mixed results for their fiscal fourth quarters, extending concerns for domestic players in the energy sector.

Exxon Mobil (XOM) delivered adjusted earnings per share of 41 cents, missing expectations by 2 cents for the quarter. This, however, excluded the positive impact of a one-time $3.7 billion gain from selling its assets in Norway as part of a broader divestment plan in Europe. Fourth-quarter revenue of $67.2 billion was well ahead of the $64.2 billion expected. Natural gas volumes were down 4% over last year, driven by declines in global gas prices as supplies rise. Overall production topped 4 million barrels a day of oil equivalent.

Chevron (CVX) posted fourth-quarter sales that missed estimates, while adjusted earnings per share of $1.49 were ahead of expectations by 4 cents. However, on an unadjusted basis, Chevron’s loss of $6.6 billion was the largest in a decade, driven by a $10.4 billion write-down of the value of its investments in natural gas fields in North America. Chevron’s production topped 3 million barrels a day of oil equivalent for the first time ever.

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7:44 a.m. ET: British pound climbs with Brexit departure due today

It’s Brexit Day overseas, with the United Kingdom due to leave the European Union at 6 p.m. eastern time (11 p.m. GMT) on Friday, more than three-and-a-half years after the Brexit referendum.

Britain, a member of the EU since 1973, is poised to leave the bloc with 27 countries remaining. The UK and EU will enter a transition period through the end of 2020, allowing people and trade to flow between borders as usual, while British and EU negotiators try to come to a longer-term free trade deal by the end of the year.

The British pound climbed 0.2% to 1.18 against the euro (GBPEUR=X)  and 0.3% to above 1.31 against the U.S. dollar (GBPUSD=X) Friday morning eastern time. The Bank of England’s monetary policy decision to hold interest rates unchanged on Thursday, when a cut had been expected by some, further supported the currency.

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7:33 a.m. ET: Stock futures fall as coronavirus spreads further

U.S. stock futures tumbled as fears over the coronavirus continued to brew.

The World Health Organization declared the virus an international emergency Thursday afternoon as the outbreak spread well beyond China. As of Friday, the number of confirmed global cases jumped by more than 2,000 to near 10,000. The virus has led to more than 200 deaths worldwide to date.

Here were the main moves during the pre-market session, as of 7:33 a.m. ET:

• S&P futures (ES=F): 3,278.25, down 11.5 points or 0.35%

• Dow futures (YM=F): 28,684, down 107 points or 0.37%

• Nasdaq futures (NQ=F): 9,194.25, down 22 points or 0.24%

• Crude oil (CL=F): $52.48 per barrel, up $0.34 or 0.65%

• Gold (GC=F): $1,578.10 per ounce, down $5.40 or 0.34%

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https://finance.yahoo.com/news/stock-market-news-live-january-31-2020-123326230.html

2020-01-31 12:44:00Z
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