European markets point to flat open after US coronavirus cases top 200,000

European markets are set to open largely flat Thursday as markets react to the coronavirus epidemic in the U.S.

London's FTSE is due to open 3 points higher at 5,431 Germany's DAX is seen opening 21 points lower at 9,492, and France's CAC 40 is seen 2 points higher at 4,191, according to IG. Italy's FTSE MIB is seen 12 points higher at 16,341.

Global markets will be reacting to news Thursday that the number of confirmed COVID-19 cases in the U.S. surpassed 200,000 Wednesday, doubling since Friday. 

The coronavirus has now infected 203,608 people in the U.S., killing at least 4,476 people, according to Johns Hopkins University.

President Donald Trump has warned that the country could see an even greater surge in cases over the next few weeks. White House officials are projecting 100,000 to 240,000 deaths in the U.S., with coronavirus fatalities peaking over the next two weeks. The country is rolling out broader testing as outbreaks pop up in more and more cities.

U.S. stock futures rose in overnight trading and pointed to gains at the open on Thursday, as markets try to rebound after kicking off the second quarter in the red.

Dow futures rose 335 points, indicating a gain of about 269 points at the open on Thursday. The S&P 500 and Nasdaq Composite were also set to open modestly higher.

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Stocks posted steep losses on Wednesday to begin the second quarter, as the coronavirus outbreak continues to wreak havoc on global markets.

In Asia, stocks traded mixed on Thursday afternoon as global markets continue their rocky start to the second quarter.

European data Thursday includes German trade numbers and euro zone producer prices for February.

— CNBC's Eustance Huang and Pippa Stevens contributed to this market report.

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