|Day's range||3,313.51 - 3,333.18|
|52-week range||2,624.06 - 3,337.77|
Despite accounts of a strong U.S. consumer, local businesses slumped in 2019 based on data from the business review site Yelp.
Stocks fell slightly in early trading Friday as a blowout earnings report from chipmaker Intel propelled technology shares higher and offset declines in health care and financial companies. The technology sector was givenaaaa an additional boost from Broadcom, which landed a deal to supply wireless components to Apple. Health care companies broadly slipped.
The travel, autos, and resources sectors have all been hit hard vs. staples, and healthcare was outperforming amid concern over coronavirus. The dollar is strong, CNY is weak, and bonds are bid.
Global stock markets rose Friday after the outbreak of a new virus in China that that has killed 25 people and led to transport limits in several cities was not declared a global emergency. As authorities confirmed more cases of the new virus first reported in the central Chinese city of Wuhan, investors continued to monitor developments in the international effort to keep it from spreading further and potentially harming the global economy. Markets were closed in Shanghai and the rest of mainland China, South Korea, Malaysia and Taiwan.
European shares on Friday were set to post their first daily gain this week on signs of a recovery ahead for growth, with easing worries over the coronavirus outbreak in China also emboldening investors. The broadly positive data helped the Euro STOXX 600 extend an early advance, climbing 1.2% and heading towards its first day of gains this week.
Global equity markets rebounded on Friday, with the U.S. Nasdaq Composite Index hitting a record high, as investors took in positive economic data from Europe and worried less about the potential economic toll of the coronavirus outbreak in China. On Wall Street, the Dow Jones Industrial Average rose 98.95 points, or 0.34%, to 29,259.04, the S&P 500 gained 4.47 points, or 0.13%, to 3,330.01 and the Nasdaq Composite added 38.29 points, or 0.41%, to 9,440.77. Concerns abated slightly about the global economic ramifications of a deadly coronavirus outbreak in China, after the World Health Organization designated it an emergency for China, but not yet for the rest of the world.
In February 2018, markets were struck by an outbreak of volatility that tore Wall Street down from record highs, prompting some to dub it a “ virus .” Nearly two years later, and with US stocks again near ...
Several factors are pointing to a possible rebound in emerging market stocks this year. Stocks in China and other developing economies notched solid gains in 2019, but lagged the blockbuster market returns delivered by publicly traded companies in the U.S. and other developed economies. The U.S.-China trade war and signs of slowing global economic growth clouded the outlook for emerging market stocks for much of last year, limiting share price gains.
Shares were mostly higher in quiet trading on Friday in Asia as China began a week-long Lunar New Year festival that is being overshadowed by the outbreak of a new virus that has killed 25 people and sickened more than 800. Markets were closed in Shanghai and the rest of mainland China, South Korea, Malaysia and Taiwan.
The S&P; 500 pulled back a bit during the trading session on Thursday, reaching towards the 3300 level. If we can break down below the 3300 level, then the market is very likely to go looking towards the 3250 level.
Wall Street stocks dropped early Thursday on worries that the coronavirus will crimp growth in China as major companies reported mixed earnings. China locked down the city of Wuhan and also closed Beijing's Forbidden City due to rising fears over a new SARS-like virus that has infected hundreds and killed more than a dozen. Briefing.com analyst Patrick O'Hare said there are also fears the virus will spread to other Asian countries and cause economic damage.
The S&P 500 ended slightly higher and the Nasdaq eked out a record closing high on Thursday, helped by a jump in Netflix, while news about the coronavirus outbreak spreading from China and mixed earnings results kept a lid on the market. The S&P and the Nasdaq had both been trading down before news late in the session that Gilead Sciences Inc was assessing its experimental Ebola drug as a possible treatment for the virus. The Dow ended modestly lower.
Based on the early price action and the current price at 3313.75, the direction of the March E-mini S&P; 500 Index the rest of the session on Thursday is likely to be determined by trader reaction to 3322.50.
Today’s analysis is about indices because it looks like, we are approaching another correction on the stock market. Current drops are contributed not to the US-China trade wars or US-Iran conflict but to a new player in the game: Coronavirus sweeping across China.
FT subscribers can click here to receive Market Forces every day by email. A divide between bullish equity sentiment and a more cautious outlook evident in government bond and gold markets has emerged of late — and well before Thursday’s retreat across global share markets and haven buying. Since early October the S&P 500 benchmark has risen 15 per cent while the FTSE All-World index is up about 13.5 per cent. A 10-year Treasury yield sitting around 1.71 per cent on Thursday remains above its multiyear lows of 1.50 per cent in October, which followed widespread talk of recession at the end of summer.