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· Dow futures point to more than 200 point opening drop amid volatile trading

Stock market futures on Monday evening pointed to a lower open on Tuesday following the roaring comeback rally that saw the Dow Jones Industrial Average post its biggest percentage gain since March 2009 and largest ever point surge.

As of 11:48 p.m. ET Monday, Dow futures were down just 5 points but pointed to an implied opening loss of 229.32 points on Tuesday. S&P 500 and Nasdaq-100 futures also pointed to losses for the two indexes at Tuesday’s open.

The moves came amid expectations of big central bank stimulus over the coming days to boost the economy and markets.

· S&P 500 Price Forecast – Stock Markets Tried To Recover

The S&P 500 has been very noisy during the trading session on Monday, as we continue to bounce around the 3000 handle. This is a market that continues to see a lot of negativity, and therefore it is probably going to be very difficult to trade over the next several sessions. Remember, we are taking a close look at the coronavirus situation and that of course continues to move the markets around. However, it now looks as if Wall Street is demanding a 75 bps cut during the month of March, and they may very well get it. If that’s going to be the case, then it’s likely that stocks will recover because the only thing they truly have cared about for the last decade or, so it has been liquidity. If that’s maintained, nobody cares about anything else.

Having said that, it’s difficult to trade in an environment that features so much in the way of uncertainty. If that’s going to be the case, then it’s very likely that we see this market continue to show plenty of negativity and concerns as there simply is nothing to hang your hat on right now. About the only thing that you can look at is the fact that the market is testing that the 3000 level. If we can stay above the 3000 level, then it’s very likely that this market will continue to go higher, perhaps taking on the 200 day EMA and then the 50 day EMA. If the market was to turn around and breakdown below the lows of Friday, the 2800 level will not only be tested bit more than likely violated to the downside as the market collapses.

· Barclays slashed its S&P 500 target for 2020 as the coronavirus throws the global supply chains into chaos. The bank also expects U.S. companies to see an earnings decline this year.

The bank now sees the S&P 500 to end the year at 3,000, down from a previous forecast of 3,300. The equity benchmark tumbled more than 10% this week alone to 2,978 as of Thursday’s close. More losses were expected Friday going by overnight futures.

Barclays also cut its S&P 500 earnings estimates to $162 per share this year, representing a 2% drop in profits. The call is even more pessimistic than Goldman Sachs’ outlook on Thursday, which shocked the market. Goldman said it sees zero earnings growth for American companies in 2020.

· Global shares and oil prices extended their rebound on Tuesday as policymakers indicated their willingness to move to ease the economic fallout from the coronavirus, while investors waited for a conference call by Group of Seven heads for trading cues.

Finance ministers from the G7 group and central bank governors will hold a conference call on Tuesday (1200GMT) to discuss measures to deal with the widening coronavirus outbreak and its economic impact..

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.4%.

· Shares in most Asian markets tracked overnight gains on Wall Street, but Tokyo's benchmark fell back Tuesday as gnawing concerns over the virus outbreak chilled buying sentiment.

Traders were awaiting talks between central bankers and other financial leaders of the Group of Seven industrial nations on how to tackle the slowdown brought on by the outbreak that began in China and has spread to dozens of countries, killing about 3,100 people and sickening more than 90,000.

Japan's Nikkei 225 lost 1.2% to finish at 21,082.73 after gaining in the morning. Australia's S&P/ASX 200 rose 0.7% to 6,435.70 after the Reserve Bank of Australia cut its key interest rate to a record-low 0.5%.

· China shares closed higher on Tuesday as new coronavirus cases in the country fell, while hopes of global policy action to limit the economic hit from the epidemic also aided sentiment.

The Shanghai Composite index .SSEC closed up 0.7% at 2,992.90, while the blue-chip CSI300 index .CSI300 ended 0.5% higher. Both indexes jumped more than 3% on Monday.

· The pan-European Stoxx 600 jumped 1.5% at the start of trading, with travel and leisure stocks climbing 2.4% to lead gains as all sectors and major bourses entered positive territory.

The pan-European Stoxx 600 jumped 1.5% at the start of trading, with travel and leisure stocks climbing 2.4% to lead gains as all sectors and major bourses entered positive territory.