Wall Street expected to start higher despite surging coronavirus cases

Markets in New York are expected to start in the green on Friday, as worries over rising coronavirus cases in the US and Europe failed to dampen enthusiasm on Wall Street. Spread-betters are predicting the Dow Jones Industrial Average will open up around 200 points, while the S&P 500 is expected to climb 24 points and the Nasdaq to rise 72 points. Traders seem keen to end the week on a positive note, with global markets having swung wildly after Monday’s vaccine news from Pfizer sent markets soaring amid hopes the pandemic could be entering its end stages. However, David Madden at CMC Markets said the rebound in sentiment “seems a bit strange” amid rising cases of the virus across multiple countries including the UK, Germany and Italy. He added: “The health crisis is becoming more of a serious issue in the US too as cities like New York and Chicago could be in for stricter restrictions.” Though he said the pandemic might not have the same negative impact on equities that it used to, seeing as there has been great progress made with potential vaccines. Four things to watch for on Friday: Share price reaction from Walt Disney Co (NYSE:DIS) after the entertainment giant suffered a loss for its fourth quarter that was less bad than feared alongside stronger than expected growth in its Disney+ streaming service Shares in Cisco Systems Inc (NASDAQ:CSCO) will also be in focus after the video conferencing firm beat estimates for its first quarter The US PPI for October may attract some attention in the macro calendar for some clarity on the US economy. The figure is set to show a 0.2% increase in producer prices for the month, slowing from a 0.4% increase in September Michigan inflation expectations and consumer sentiment may also draw the eye of those monitoring macro data, although few fireworks are expected