Futures tied to the Dow Jones Industrial Average edged 0.2% higher, signaling an end to three consecutive days of declines for the index of blue-chip stocks.
Stock markets in the U.S. and Europe are hovering near all-time highs despite the disruption caused by the outbreak because fund managers expect Beijing to boost the economy with stimulus policies.
China launched fresh measures to support local businesses that are struggling because of the coronavirus outbreak.
The recovery in global stocks came after China’s Ministry of Industry and Information Technology said the government would connect factories with technology companies to identify weak links in their supply chains. The assistance is one of several steps that Beijing and local Chinese authorities have taken to limit the economic fallout of the coronavirus, which has sickened 75,200 people world-wide and killed more than 2,000.
Investors are taking comfort from the measures to support businesses as well as a fall in the number of new cases of the virus being confirmed each day. However, many are grappling with high levels of uncertainty about the economic toll of the epidemic, and pointed to mixed reports on whether people are going back to work.
With official Chinese manufacturing data not due to be published until Feb. 29, investors are relying on other measures to assess the economic impact of the illness. Some of these gauges point to a steep decline in activity. Major energy producers have consumed a third less coal each day in February than normal seasonal patterns would suggest, economists at Goldman Sachs Group said in a note.