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· Dow Jones Futures In Focus After Big Coronavirus Stock Market Rally, As U.S. Cases Top 164,000; Amazon's New Buy Point

Dow Jones futures were modestly higher after paring solid gains in Tuesday's early trading session, along with S&P 500 futures and Nasdaq futures, after Monday's big coronavirus stock market rally. The Dow Jones futures initially extended gains after China unexpectedly reported strong manufacturing activity in March.

Dow Jones futures were up 0.1% vs. fair value, while S&P 500 futures also traded up 0.1%. The Nasdaq 100 futures rose 0.2% vs. fair value. The futures briefly extended their gains after China reported better-than-expected manufacturing activity in March. According to Reuters, China said the Purchasing Manager's Index was 52.0, topping analyst expectations for a 45 reading.

The coronavirus outbreak continues to rapidly spread across the U.S. According to the Worldometer data tracker, the number of confirmed U.S. cases rose above 164,000. New York state continues to be the epicenter of the outbreak in the U.S. with more than 66,000 total cases, or about 41% of the country's confirmed total.

· Asian shares were set to close out a calamitous quarter by eking out a small rally on Tuesday as factory data from China held out the hope of a revival in activity, even as much of the rest of the world shut down.

China’s official manufacturing purchasing managers’ index (PMI) bounced to 52.0 in March, up from a record-low 35.7 in February and topping forecasts of 45.0.

The number was enough of a relief though to help MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rise 0.94%. That still left it down 22% for the quarter, its worst performance since 2008.

· Japanese stock benchmark Nikkei dropped on Tuesday on growing fears that Tokyo could go into its first-ever lockdown as the global coronavirus crisis showed no signs of abating.

The Nikkei average fell 0.9% to 18,917.01, well below 19,500, the average cost of the Bank of Japan’s massive stock purchase since 2013.

The index was down 10.5% for the month, its biggest monthly decline since May 2010, and down 20.0% year-to-date, its worst quarter since late 2008.

· Chinese shares edged up on Tuesday after the country reported a better-than-expected industrial activity, though fears of an economic fallout of the coronavirus pandemic led the stock market to its worst quarter since 2018.

The Shanghai Composite index closed 0.1% firmer at 2,750.30 and the blue-chip CSI300 index added 0.3% on hopes that the world’s second-largest economy may soon recover from the initial shock caused by the outbreak.