Currently, the major US equity indices point to a slightly positive open, but it's TBD how the market will trade today following comments from the World Health Organization that it isn't clear the coronavirus has been contained.
Currently, the major US equity indices point to a slightly positive open, but it's TBD how the market will trade today following comments from the World Health Organization that it isn't clear the coronavirus has been contained.
Software stocks have been a key driver of the market’s 2020 gains. Among them is Salesforce (CRM) stock which has seen its stock rise 16.5% year to date and 30% over the past six months
On the one hand we have the biggest mix of potential market-impact problems I have seen in my 23-year professional career. On the other hand we have the sense that, ever since the Fed folded on Quantitative Tightening in 2018, they are unwilling to allow financial assets to drop.
As I pointed out on Thursday of last week, chart reading has its limitations. It takes no account of potential shifts in fundamental conditions, for example, and is therefore not particularly good for predicting the long-term future.
After a weekend during which COVID-19 cases accelerated, Italy suffers from the largest outbreak outside of Asia, and South Korea's government raised its virus alert to its higher level, fear of a global pandemic dominates the markets.
After a weekend during which COVID-19 cases accelerated, Italy suffers from the largest outbreak outside of Asia, and South Korea's government raised its virus alert to its higher level, fear of a global pandemic dominates the markets.
You would be hard-pressed to find a faster-growing industry today than cybersecurity, particularly as more and more consumer data goes online and into the cloud. And that strong outlook bodes well for cybersecurity specialist Palo Alto Networks.
In a note sent to client on Friday, Bank of America Global Research rates strategist Bruno Braizinha warned, “The coronavirus outbreak contain a significant likelihood of impact to the global economy and the potential to become a black-swan type event.”
Yesterday, I wrote a piece that drew parallels with the situation in 2018 just before the stock market underwent a near twenty percent correction and suggested caution as a result.
The coronavirus is once again front and center for investors today with stocks in Asia closing mostly in the red except for the major Chinese indices on word that the return to work is accelerating in the major foreign trade provides.
The coronavirus is once again front and center for investors today with stocks in Asia closing mostly in the red except for the major Chinese indices on word that the return to work is accelerating in the major foreign trade provides.
Chris Versace
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