The Dow Jones Industrial Average is trying to avoid a three-session losing streak Thursday. But U.S. stock futures were pointing to a lower open on Wall Street. Despite a couple down days in a row, the Dow as of Wednesday's close was still less than 1% from record highs. Companies continue to report quarterly earnings, with three Dow components on Thursday's docket: Procter & Gamble and Travelers before the bell, and Intel after the close.
The World Health Organization is reconvening Thursday after international health experts were split on deciding whether China's coronavirus should be classified as a "public health emergency of international concern." Such a designation would give the WHO powers to help coordinate a global response with its 196 member countries, including the United States. Seventeen people have died from the flu-like virus, with hundreds more sickened.
Global leaders continue to meet at the World Economic Forum in Davos, Switzerland. It ends Friday. Treasury Secretary Steven Mnuchin on Thursday criticized Swedish climate activist Greta Thunberg, saying the 17-year-old should study economics at college before lecturing the U.S. on fossil fuel investments. On trade, Commerce Secretary Wilbur Ross said the U.S. could still apply tariffs on European carmakers, despite their aim to put together a new trade deal.
A new Wharton School study, looking at policy proposals from 2020 Democratic presidential candidates, finds that Sen. Bernie Sanders' proposed wealth tax will generate $1 trillion to $1.5 trillion less than he claims. The analysis also found that former Vice President Joe Biden's tax approach would raise $600 billion to $900 billion less he estimates.
House Democrats on Thursday will lay out more of their impeachment case against President Donald Trump, arguing to the Senate why he should be convicted and removed from office. Senate Democratic leader Chuck Schumer said a potential deal to swap former national security advisor John Bolton's testimony for Hunter Biden's is "off the table." It's unlikely that the GOP-controlled Senate would vote to remove Republican Trump from office.