U.S. stock futures were pointing to higher Wall Street open Friday after the Dow Jones Industrial Average fell modestly, the S&P 500 rose slightly and the Nasdaq logged another record high closing. The Dow and S&P 500 were less than 1% from their all-time high closes. Dow stocks American Express and Intel were higher in Friday's premarket trading after reporting better-than-expected quarterly earnings and revenue. Stocks on Thursday recovered from earlier losses after the World Health Organization said it's a "bit too early" to consider China's outbreak of coronavirus "a public health emergency of international concern."
Chinese health officials said at least 26 people have died from the coronavirus, with confirmed cases there rising to over 900. China's travel ban extended to more than a dozen cities, covering some 35 million people. Shanghai Disney is closing until further notice to help stop the spread of the flu-like virus. The outbreak is hitting during China's Lunar New Year holiday, a time when Walt Disney's Shanghai Disney would normally be packed with tourists.
Democratic impeachment managers pushing the Senate to remove President Donald Trump from office finish their 24-hours of opening statements spread over three days on Friday. Trump's lawyers will then have the same amount of time to present the president's defense. Senators, who have been required to keep silent during the trial proceedings, will then have 16 cumulative hours to ask questions of the House managers and the defense team.
JPMorgan Chase Chairman and CEO Jamie Dimon got a 1.6% raise to $31.5 million for his work in 2019 after the bank posted record earnings and shares of the company surged. Dimon's compensation package breaks down to $1.5 million in salary and $30 million in performance-based incentives. Last year, JPMorgan produced $36.4 billion in profit last year, more than any bank in history, and shares climbed more than 40%, exceeding its rivals and the broader stock market in 2019.
The U.S. government has announced that former Wells Fargo CEO John Stumpf has been banned from working at a bank again and will pay $17.5 million for scandals in which millions of fake accounts were set up to meet sales quotas. Regulators plans to target others, including former executives, for their roles in the schemes. Wells Fargo has remained muddled in restructuring and regulatory reforms since the fake accounts were brought to light in 2016.
— Reuters contributed to this report.