The Federal Reserve's $3 trillion bid to stave off an economic crisis in the wake of the coronavirus outbreak is fuelling excesses across U.S. capital markets.

Asian stock markets followed Wall Street lower Friday on worries economic recoveries might fade as coronavirus cases increase in the United States and some other countries.

More than 1.3 million Americans filed for unemployment benefits last week, showing that many workers are still losing their jobs even as the labor market starts to recover from the coronavirus pandemic and related lockdown.

Futures contracts tied to the major U.S. stock indexes rose at the start of the overnight session Wednesday evening just hours after the Nasdaq Composite clinched its 25th record close for 2020.

Shares were mixed in Asia on Wednesday as uncertainty over the pandemic sapped the buying enthusiasm that has been driving prices higher.

U.S. equity futures are trading lower ahead of the Tuesday session on Wall Street.

Dow Jones futures rose sharply Monday morning, along with S&P 500 futures and Nasdaq futures, signaling a strong Monday open for the coronavirus stock market rally as Chinese stock markets soared overnight on bullish local media. While coronavirus cases are soaring in the U.S., Covid-19 deaths have continued to trend lower.

The latest report from the Congressional Budget Office expects the economy to “grow rapidly” in the third quarter provided taxes and spending ‘remain in place.’