US STOCKS-Wall St poised for higher open on China stimulus hopes, signs of slowing virus spread

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Garmin climbs after upbeat revenue forecast
* China expected to cut benchmark interest rates
* Fed minutes to be released at 2 p.m. ET (1900 GMT)
* Futures up: Dow 0.34%, S&P 0.34%, Nasdaq 0.51%

(Adds comment, details; updates prices)
By Medha Singh
Feb 19 (Reuters) - Wall street was set for a stronger open
on Wednesday as signs of slowing coronavirus infections and
expectations that China would take more measures to bolster its
virus-hit economy helped investors shake off worries stemming
from Apple's sales warning.
The number of new coronavirus cases dropped for the second
straight day in China although global health officials cautioned
it was too early to predict how the epidemic will play out and
many viewed the official data with skepticism.
MKTS/GLOB
China is widely expected to cut its benchmark lending rate
on Thursday after several fiscal and monetary measures as it
attempts to limit the damage from business shutdowns and travel
curbs on the world's second-largest economy.
"There are talks that China's central bank will cut
short-term interest rates tonight as they try to stimulate the
economy ... and that's why equity markets are trading a little
bit higher," said John Brady, senior vice president at R.J.
O'Brien & Associates in Chicago.
China's recent stimulus measures, confidence in the U.S.
economy and hopes that the damage from the outbreak will be
short-lived helped Wall Street's main indexes clinch fresh highs
last week.
"Market certainly believes that the worst of the economic
impact will be felt in the first quarter," Brady said, adding
that the more poorly the first-quarter economic data was, the
stronger the v-shaped bounce would be in the next two quarters
if the virus is contained.
U.S. stocks .DJI .SPX fell on Tuesday as a warning from
Apple Inc AAPL.O that it would be unable to meet its
current-quarter sales targets highlighted concerns about
disruptions to global supply chains.
However, many analysts saw the iPhone maker's forecast
update as a near-term problem. Apple shares were up 0.5% in
premarket trading.
At 8:48 a.m. ET, Dow e-minis 1YMcv1 were up 98 points, or
0.34%. S&P 500 e-minis EScv1 were 11.5 points, or 0.34%,
higher and Nasdaq 100 e-minis NQcv1 were up 49 points, or
0.51%.
Market participants now await the minutes of the U.S.
Federal Reserve's last policy meeting, where the central bank
pointed to continued moderate growth for the domestic economy
and said it was monitoring risks from the coronavirus outbreak.
Several Fed policymakers are also scheduled to speak before
the minutes are released at 2:00 p.m. ET (1900 GMT).
Garmin Ltd GRMN.O rose 10.4% after the wearable fitness
devices maker forecast full-year revenue above analysts'
estimates.
Co-Diagnostics Inc CODX.O climbed 4.8% after the molecular
diagnostics company said it was moving towards obtaining
clearance from regulatory bodies to market and sell its
screening test for coronavirus.