US STOCKS-Futures rise on hopes virus may be over soon; Sprint soars

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* Futures up: Dow 0.21%, S&P 0.18%, Nasdaq 0.32%

By Medha Singh
Feb 11 (Reuters) - U.S. stock index futures rose on Tuesday
as a top Chinese health adviser said the coronavirus outbreak
may plateau in the next few weeks, while Sprint shares surged on
hopes of favorable ruling for its merger with T-Mobile.
China's foremost medical adviser on the epidemic said
infections may be over by April, with the number of new cases
already declining in some places, even as the death toll crossed
1,000. However, investors were on edge as it was still unclear how
much of a hit the world's second-largest economy would take as
factories struggled to resume production after an extended Lunar
New Year break.
"Now it's no longer a question of whether the coronavirus
epidemic will lead to an economic slowdown, but how painful this
slowdown will be," said Lukman Otunuga, senior research analyst
at FXTM.
"The scale of the impact can only be determined when the
spread of the virus begins to slowdown and the outbreak gets
under control."
The S&P 500 .SPX and the Nasdaq closed at record highs on
Monday as largely better-than-expected quarterly earnings,
positive U.S. economic data and China's recent stimulus measures
helped investors look past fears about the coronavirus fallout.
At 7:04 a.m. ET, Dow e-minis 1YMcv1 were up 61 points, or
0.21%. S&P 500 e-minis EScv1 were up 6 points, or 0.18% and
Nasdaq 100 e-minis NQcv1 were up 30.5 points, or 0.32%.
Sprint S.N soared 63.8% as sources said a U.S. district
judge is expected to rule in favor of a merger with T-Mobile US
TMUS.O . T-Mobile shares jumped 8%, while larger rivals Verizon
Communications Inc VZ.N and AT&T Inc T.N rose 1.3% and 1.5%,
each.
Fourth-quarter earnings have largely been upbeat, with about
71% of the 324 S&P 500 companies that have reported results so
far beating profit estimates.
Hasbro Inc HAS.O jumped 8.8% after posting
better-than-expected quarterly profit, boosted by lower costs
and strong demand for toys based on Disney's Frozen and Star
Wars franchises. Markets will also look out for any mention of the potential
threat from the coronavirus in Federal Reserve Chair Jerome
Powell's address to the Congress on Tuesday. His testimony is expected to begin at 10 a.m. ET (1500 GMT).