Written by Gary
Stocks dip as virus impact weighed, oil gains for the week. (SPY +0.2%) Chinese health officials warned Friday afternoon they expect a “surge”. The fat lady didn’t sing
The Market in Perspective
| Here are the headlines moving the markets. | |
 | S&P 500 posts slim gain, helped by Nvidia boostThe S&P 500 ended modestly higher on Friday following strong earnings from Nvidia and a report late in the session that the White House was considering a tax incentive for Americans to buy stocks. |
| Canadian pot producer Canopy may face challenges offloading assets, CEO saysCanada’s biggest cannabis producer, Canopy Growth Corp , could face challenges offloading assets as it seeks to winnow its facilities down to focus on its most lucrative markets and products, its chief executive told Reuters. |
| Google in talks with publishers to pay for premium news content: WSJAlphabet Inc’s Google is in talks with publishers on paying a licensing fee for content that would be packaged in a premium news product, the Wall Street Journal reported https://www.wsj.com/articles/google-in-talks-to-pay-publishers-for-content-in-premium-news-product-11581689169, citing people familiar with the matter. |
| Oil rises over 1% on hopes demand will rebound from coronavirus effectOil prices rose over 1% on Friday, posting their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. |
| Wall Street Week Ahead: Investors bet emerging markets will weather coronavirus impactInvestors are edging back into emerging markets, even though worries about the coronavirus’ impact on global economic growth have clouded prospects for the boom-and-bust asset class. |
| Bridgewater, Viking among big hedge funds that added Tesla in fourth quarter before rallyBillionaire Ray Dalio’s Bridgewater Associates, Viking Global Investors, and Granite Point Capital were among prominent hedge funds placing new bets on electric carmaker Tesla Inc in the fourth quarter, positioning them to gain from its nearly 100% rally over the first six weeks of the year. |
| Saks Fifth Avenue plans expansion into bankrupt Barneys shop in Los AngelesLuxury department store operator Saks Fifth Avenue, owned by Canada’s Hudson’s Bay Co , is expanding into bankrupt fashion chain Barneys’ Beverly Hills shop, people familiar with the matter said on Friday. |
| Stocks dip as virus impact weighed, oil gains for the weekMajor world stock indexes edged lower on Friday as investors further assessed the economic fallout of China’s coronavirus outbreak, while oil prices registered their first weekly gain since early January. |
| Google protests ‘eye-catching’ $2.6 billion EU fine, judge disagreesGoogle on Friday attacked what it called an eye-catching 2.4 billion euro ($2.6 billion) EU antitrust fine, prompting a judge to ask how a rich company can miss a relatively paltry amount. |
| China Is Disintegrating: Steel Demand, Property Sales, Traffic All Approaching ZeroChina Is Disintegrating: Steel Demand, Property Sales, Traffic All Approaching Zero In our ongoing attempts to glean some objective insight into what is actually happening “on the ground” in the notoriously opaque China, whose economy has been hammered by the Coronavirus epidemic, yesterday we showed several “alternative” economic indicators such as real-time measurements of air pollution (a proxy for industrial output), daily coal consumption (a proxy for electricity usage and manufacturing) and traffic congestion levels (a proxy for commerce and mobility), before concluding that China’s economy appears to have ground to a halt. That conclusion was cemented after looking at some other real-time charts which suggest that there is a very high probability that China’s GDP in Q1 will not only flatline, but crater deep in the red for one simple reason: there is no economic activity taking place whatsoever. We start with China’s infrastructure and fixed asset investment, which until recently accounted for the bulk of Chinese GDP. As Goldman writes in an overnight report, in the Feb 7-13 week, steel apparent demand is down a whopping 40%, but that’s only because flat steel is down “only” 12% Y/Y as some car plants have ordered their employee to return to work (likely against their will as the epidemic still rages). |
| Bonds, Bitcoin, & Bullion Bid As ‘Quarantative Easing’ Hopes Send Stocks SoaringBonds, Bitcoin, & Bullion Bid As ‘Quarantative Easing’ Hopes Send Stocks Soaring Deaths (and Cases) from the Covid-19 virus exploded higher this week… |
| Chinese Experts Warn Of Imminent “Surge” In Coronavirus Cases: Virus UpdatesChinese Experts Warn Of Imminent “Surge” In Coronavirus Cases: Virus Updates Summary: First case reported in Africa after the Egyptian Health Ministry confirms non-Egyptian patient who recently traveled to China China warns of incoming case surge China says 1,716 medical workers have been infected WHO demands to know more about sick doctors, insists group of 12 virus experts will reach Beijing over the weekend Singapore reports largest daily jump in cases amid increased human-to-human transmission Egypt confirms first case; virus now present in 29 countries/territories Hong Kong reports 3 new cases New quarantine measures take effect in Wuhan President Xi touts new “biosecurity law” Hong Kong Disney land offers space for quarantine Chinese company says blood plasma of recovered patients useful in combating the virus US mulling new travel restrictions Japan reports 4 new cases; one patient recently returned from Hawaii. CDC Director: Virus is “Coming” to the US. * * * Update (1545ET): For anybody who hoped Wednesday’s surge in new cases and deaths in Wuhan might have been a one off – we’re sorry to disappoint. Unfortunately, it looks like the data dump (which was blamed on a pro forma death accounting) was only the beginning. Because Chinese health officials warned Friday afternoon that despite a drop on Thursday, they expect a “surge” … |
| Red Scare: Love Is Never Having To Say You’re SocialistRed Scare: Love Is Never Having To Say You’re Socialist Authored by Jonathan Turley, On this Valentine’s Day, the Democratic establishment is sending out its equivalent of œforget me nots saying œLove is never having to say you’re Socialist. Alarm over the surge of Bernie Sanders has turned widespread alarm in Democratic and media circles (sometimes hard to differentiate on some channels) into full-blown panic. With now a double digit lead over Biden in national polls, there is a constant drumbeat in the media against Sanders – the same type of bias that actually pushed many voters toward Trump in 2016. |
| Save more, work long, expect less: Welcome to upside-down worldSave more, work long, expect less: Welcome to upside-down worldUltra-low and negative interest rates are taking hold in countries where economic growth has been sluggish. |
| Kotak on how India can achieve high growthKotak on how India can achieve high growthIndia’s aspirational growth of 6-7% depends on risk capital and strong corporate governance code, Kotak said. |
| Yet to link PAN with Aadhaar? Read thisYet to link PAN with Aadhaar? Read thisPAN will become inoperative if it is not linked with Aadhaar by March 31, the I-T department has said. |
| The Ratings Game: Nvidia stock closes at record as data-center sales inspire analyst love festNvidia Corp.’s shares surge to close at a record high Friday as analysts practically write Valentine’s Day notes for the stock and hike their price targets as the chip company barrels past expectations in data-center sales after a tough year of revenue declines. |
| TaxWatch: Fortnite gamers don’t need to worry about reporting their V-Bucks to the IRSVirtual currency is ‘an important focal point’ for the IRS in 2020 ” just not in-game currency that can’t be used in the real world. |
| Bond Report: Treasury yields sink after disappointing retail sales point at consumer weaknessU.S. Treasury yields grind lower Friday, capping off a turbulent week of trading, after a weaker-than-expected retail sales number points to potential cracks in a longstanding pillar of the economy. |
Summary of Economic Releases this Week
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
