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U.S. stocks fell minutes after the open on Tuesday as G7 heads stopped short of outlining measures to cushion the economic blow of the coronavirus epidemic, while assuring policy support.

The bosses of Ryanair and British Airways-owner IAG expect the drop-off in travel demand to stabilize in the coming weeks, before bookings return for the summer, they said at a conference on Tuesday.

Saks Fifth Avenue owner Hudson's Bay Co Executive Chairman Richard Baker will take over as chief executive officer, a source familiar with the matter told Reuters on Tuesday.

The Dow Jones Industrials index looked set to drop more than 100 points at the open on Tuesday after G7 heads stopped short of outlining measures to cushion the economic blow of the coronavirus epidemic, while assuring policy support.

Peugeot maker PSA does not expect to make a call before the end of 2020 on whether to keep its British factory at Ellesmere Port running, depending on how Brexit talks evolve, Chief Executive Carlos Tavares said on Tuesday.

New electric models will help BMW and Daimler cut emissions from the cars they sell by an average of 20% this year, the German automakers predicted on Tuesday, as they strive to meet tough new European pollution rules.

Carmakers are under pressure in Europe to sell more electric cars or face huge fines for breaching new emissions rules aimed at tackling global warming.

Algeria energy minister and OPEC president said on Tuesday OPEC+ countries will discuss new "substantial" oil production cuts at their meetings in Vienna this week, Algerian state news agency APS reported.

There is no need for any imminent action from the European Central Bank to combat the impact of the coronavirus outbreak, but global coordination to shield the world economy is a welcome step, ECB policymaker Peter Kazimir said on Tuesday.

Chevron Corp on Tuesday said it would keep spending in check and return billions to shareholders over the next five years, with Chief Executive Mike Wirth making the case that his company is the oil major best able to produce oil and generate profits at the lowest cost.

Oil prices extended gains on Tuesday on expectations that central banks will provide financial stimulus to offset the impact of the coronavirus outbreak and on growing optimism that OPEC will order deeper output cuts this week.

U.S. stock index futures were mixed on Tuesday, as G7 heads indicated willingness to take steps to mitigate the economic impact of the coronavirus epidemic, but stopped short of announcing concrete measures.

A recovery in world stock markets and oil prices picked up pace on Tuesday, as global policymakers signalled a united front to address the economic fallout from the spreading coronavirus.

Chevron Corp said on Tuesday it could return as much as $80 billion to shareholders over five years even if oil prices remained low.

Impossible Foods on Tuesday announced an average of 15% cut in vegan product prices to distributors in the United States and asked them to pass it on to restaurants as the plant-based meat maker competes against beef products.

Chevron Corp said on Tuesday it planned to return $80 billion to shareholders over five years.

Daimler's car production in China is stable and the supply chains are secure but it is too early to forecast the impact of the coronavirus outbreak on the German carmaker's sales, Mercedes-Benz's sales chief said on Monday.

European Central Bank policymaker Robert Holzmann said he would not support an interest rate cut to insulate the euro zone from the effects of the coronavirus epidemic but he could consider giving firms ultra cheap loans.

OPEC ministers are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the new coronavirus.

Kuwait's oil minister said on Tuesday he is optimistic about the outcome of OPEC meetings this week and continued cooperation among OPEC+ countries, Kuwait state news agency KUNA reported.