US STOCKS-Nasdaq set for fresh record on strong Intel forecast

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* Intel eyes 19-year high after strong forecast
* American Express gains as profit beats estimates
* WHO says outbreak a China emergency, not global
* Futures up: Dow 0.25%, S&P 0.19%, Nasdaq 0.27%

(Changes comment, updates price)
By Sruthi Shankar
Jan 24 (Reuters) - The tech-heavy Nasdaq was set to hit a
new record high on Friday after a strong forecast from Intel and
encouraging business activity data out of Europe lifted the
mood, while investors tracked latest developments related to the
coronavirus outbreak.
Chipmaker Intel Corp INTC.O jumped 4.8% in premarket
trading, and was on course to open at a 19-year high, after it
forecast better-than-expected 2020 earnings, joining many of its
peers to signal a recovery in chip demand. Advanced Micro Devices Inc AMD.O rose 1.0%, while Broadcom
Inc AVGO.O gained 2.9% after entering an agreement with Apple
Inc AAPL.O for the supply of wireless components used in its
products. While Beijing ramped up measures to contain a virus that has
killed 26 people and infected more than 800 in the past week,
investors took relief from the World Health Organization
declaring the new coronavirus an emergency just for China and
stopping short of declaring the epidemic of international
concern. Concerns about infections spreading as many Chinese travel
for the Lunar New Year have taken a toll on risky assets this
week, particularly travel, hotel and airline stocks.
"If you look into these types of things in the past, they
tend to create some sort of a panic initially," said Randy
Frederick, vice president of trading and derivatives for Charles
Schwab in Austin, Texas.
"But from the perspective of how they impact the economy and
the U.S. markets, they tend to be generally short-lived."
The risk-on mood was also supported by a slew of PMI data
that signaled some recovery in eurozone growth this year.
A report from Markit Economics, due at 9:45 a.m. ET, is
expected to show an index of U.S. manufacturing activity inched
up to 52.5 in January from 52.4 in the previous month, while the
services sector index likely rose to 52.9 in January from 52.8
in December.
At 8:51 a.m. ET, Dow e-minis 1YMcv1 were up 74 points, or
0.25%. S&P 500 e-minis EScv1 were up 6.25 points, or 0.19% and
Nasdaq 100 e-minis NQcv1 were up 25 points, or 0.27%.
In other movers, credit card issuer American Express Co
AXP.N rose 2.2% after reporting a better-than-expected
quarterly profit as more people used its cards for shopping and
paying bills. Walt Disney Co DIS.N slipped 0.6% after the company said
its Shanghai Disney Resort will be closed until further notice
in the wake of the virus outbreak.