Morning Briefing
U.S. stocks break down on bad coronavirus news from California; technical support fails
This morning it sure looked like U.S. stocks were going to bounce back from yesterday's beating and from a deeply negative open. After opening down 2.28% at 9:31 a.m. New York time and then sinking even lower to down 3.54% by 10:35, the Standard & Poor's 500...
Microsoft warns that coronavirus will cause miss in guidance in March quarter
This is exactly the pattern that financial markets are afraid of:Â Another company announcing the it would miss the revenue and earnings guidance that it had issued just weeks ago because of the effects of the coronavirus outbreak. In this case it's Microsoft (MSFT), a...
Today’s attempt at a bounce doesn’t hold–S&P 500 closes down in New York
This morning it looked like U.S. stocks would bounce from the drop of Monday and Tuesday--about 6% on the Standard & Poor's 500. As of 10:51 a.m. New York time the index was up 1.64% to 3182.08. But that has turned out to be the high of the day. By 12:18 p.m. the...
Overnight markets aren’t sending message of cheer for New York stocks on Wednesday
If you're trying to figure out where New York stocks are headed tomorrow after several brutal days of trading, the overnight market results from Asia aren't reassuring. Although they haven't ended as bad as they began the day. The South Korean won fell toward its...
Market decides coronavirus outbreak is no time for a bounce
The Standard & Poor's 500 opened higher today--by 0.65%--a typical reaction the day after a big drop. But stocks quickly reversed direction and by 11:20 a.m. New York time on Tuesday morning, the S&P 500 was down 1.33%. One of the big problems in generating a...
China rolls the dice on coronavirus, speeds workers back to factories
China's national and local governments are rushing to restart factories. They're loosening the rules on quarantine and screen for the coronavirus so workers can return to work. This even though the virus has shown that it can incubate, undetected and asymptomatic, for...
China changes its reporting on coronavirus cases–again–as reported cases of infection surge in Beijing
Public health officials in China made changes again today, Friday, February 21, o their criteria for counting coronavirus cases. It's the third change in how the country counts cases in eight days and the second change in 24 hours. It's safe to say, I think, that no...
Coronavirus cases–and deaths–spread beyond China–Is this the feared shift to pandemic outside of China?
Today Japan reported the first two deaths from coronavirus among passengers quarantined on the Diamond Princess cruise liner, South Korea reported its first fatality, and new cases in Iran sparked fears that the disease is spreading in the Middle East. China tallied a...
China’s private companies saying they can’t or won’t pay workers because of coronavirus
Across China, companies in the private sector of the country's economy are telling workers that their paycheck will be delayed or that it will be smaller than usual or, worst case, that there won't be a paycheck at all. For example, NIO, an electric car-maker based in...
China quarantines 760 million people–think that will have an effect on the economy?
We still don't know if the coronavirus epidemic is slowing in China--the latest report shows deaths in China up 105 to 1,770 and the official number of cases climbing in mainland China to 70,548. Hubei province has reported 1,933 new cases, up from 1,843 the day...China changes the way it counts coronavirus cases resulting in 13,300 more cases–and nobody really knows what this means
The calming words from the World Health Organization after Chinese health officials added 13,3000 cases to the total in Hubei province is that this is just a change in how cases are reported and NOT an indication that the epidemic, which has looked to be slowing over...Jim’s Stock Alerts
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