US stock markets higher on hopes of global monetary stimulus

U.S. stock index futures were higher Tuesday morning, as investors sought to assess the potential economic fallout as a result of the fast-spreading coronavirus.

The Dow Jones industrial average rose 242 points, indicating a positive open of more than 22 points. Futures on the S&P 500 and Nasdaq-100 were both slightly higher.

The pre-market moves follow a roaring comeback rally in the previous session that saw the Dow post its biggest percentage gain since March 2009. The index also recorded its largest-ever point surge on Monday.

Monday saw U.S. stocks snap a losing streak that had gone on for over a week. Some investors are skeptical that the rally has legs without a significant central bank response. Even if that comes to fruition, investors have their doubts the market has seen the end of its tumultuous trading of the last six days.

The U.S. stock marked saw a historic bounce back on Monday, with the Dow gaining nearly 1,300 points. The Dow finished up 5.1% on the the day, while the S&P 500 gained 4.6%.

source: CNBC