US STOCKS-Futures surge as China liquidity measures calm investor fears

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* Futures up: Dow 1.23%, S&P 1.26%, Nasdaq 1.51%

By Medha Singh
Feb 4 (Reuters) - U.S. stock index futures jumped 1% on
Tuesday, signaling a recovery for Wall Street from a sharp
coronavirus-led pullback last week, with fresh intervention by
China's central bank calming investor nerves.
In a bid to cushion the economic blow of the epidemic, China
injected 1.7 trillion yuan ($242.74 billion) via reverse repos
on Monday and Tuesday, helping Chinese stocks reverse some
losses and lifting the world equity index .MIWD00000PUS .
The monetary intervention boosted investor sentiment even as
several economists cut their forecasts for 2020 global growth as
the death toll from the outbreak mounts and business operations
in China remain suspended.
Premarket gains on Wall Street were led by technology
stocks, with Intel Corp INTC.O , Apple Inc AAPL.O and
Microsoft Corp MSFT.O climbing between 1.5% and 2.2%.
Of the 30 Dow-listed industrial components .DJI , 29 were
trading higher.
But Alphabet Inc's GOOGL.O shares slipped 3.2% after
Google's advertising business and new data about YouTube and
Google Cloud broadly disappointed. At 8:16 a.m. ET, Dow e-minis 1YMcv1 were up 350 points, or
1.23%. S&P 500 e-minis EScv1 were up 41 points, or 1.26% and
Nasdaq 100 e-minis NQcv1 were up 137.5 points, or 1.51%.
Markets rebounded on Monday, supported by a surprise
expansion in U.S. factory activity, following the S&P 500's
.SPX worst weekly decline in six months. Fears about the coronavirus outbreak have overshadowed a
largely positive fourth-quarter earnings season. About 70% of
nearly half of the S&P 500 companies that have reported so far
have surpassed earnings estimates.
Health insurer Centene Corp's CNC.N better-than-expected
quarterly revenue was eclipsed by a surge in medical costs,
sending its shares down 2.6%. MGM Resorts International MGM.N , Wynn Resorts WYNN.O ,
Las Vegas Sands LVS.N and Melco Resorts & Entertainment
MLCO.O dropped between 0.5% and 1.9% after Macau, the world's
biggest gambling hub, asked casinos to suspend operations for
two weeks to stem the coronavirus outbreak. Investors were also eyeing the U.S. Democratic presidential
nominating race that got off to a chaotic start on Monday, with
officials blaming "inconsistencies" for an indefinite delay in
the state's caucus results. In economic news, data at 10 a.m. ET is likely to show U.S.
factory orders rose 1.2% in December after a 0.7% slip in the
prior month.