By Jesse Cohen
Investing.com - U.S. stock markets looked set for gains on Thursday, as Wall Street’s major indices tried to rebound after kicking off the second quarter in the red.
Dow futures indicated a gain of about 300 points at the open. The S&P 500 and Nasdaq Composite were also set to open higher.
Stocks plunged on Wednesday to begin the second quarter, as the coronavirus outbreak continued to wreak havoc on global markets.
Investors were spooked after U.S. President Donald Trump's dire press briefing late Tuesday, in which he warned Americans of a "painful" two weeks ahead in fighting the coronavirus even with strict social distancing measures.
White House medical advisers now forecast that even if Americans follow unprecedented stay-at-home orders, some 100,000 to 240,000 people could die from the respiratory disease.
"Difficult days are ahead for our nation," Trump said.
"We're going to have a couple of weeks, starting pretty much now, but especially a few days from now, that are going to be horrific."
The pandemic has shown few signs of abating with more than 215,000 confirmed cases in the United States, according to data from Johns Hopkins University.
The death toll also continues to climb, with the virus claiming the lives of more than 5,000 people.
Nearly half of all U.S. cases come from New York, where about 83,000 people have been infected.
Globally, there are now almost one million confirmed cases, with total deaths approaching 50,000.
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-- Reuters contributed to this report