26Feb2020 Pre-Market Commentary: Wall Street Stock Futures Are Pointing For A Modest Higher Opening, DOW Up 86 Points, WTI Crude Falls For A Third Day Down 49.33, US Dollar And Gold Down Fractionally

Here is the current market situation from CNN Money

European markets are lower today with shares in London off the most. The FTSE 100 is down 0.31% while Germany’s DAX is off 0.28% and France’s CAC 40 is lower by 0.07%.

Walt Disney’s Iger steps down as CEO, parks head Chapek to take reins

Walt Disney Co’s Robert Iger will step down as chief executive officer, handing the reins to Disney Parks head Bob Chapek, the company said on Tuesday, ending years of speculation on who will take over Hollywood’s most powerful studio.

Disney shares down 2% after ‘surprise’ CEO change

Shares of Walt Disney Co fell 2% on Wednesday after the media giant’s surprise move to replace top boss Bob Iger raised questions on Wall Street if his successor Bob Chapek had sufficient experience in the entertainment business.

BP to quit main U.S. refining lobby over carbon policy

BP will leave the main U.S. refining lobby and two other trade groups as new CEO Bernard Looney spurs some of the oil sector’s most ambitious targets for curbing carbon emissions.

Jury weighs verdict for ex-Barclays bankers in Qatar fee trial

The jury in the London trial of three former Barclays bankers accused of funneling secret fees to Qatar in return for emergency funding during the financial crisis in 2008, retired to consider its verdict on Wednesday.

U.S. crude drops below $50 as virus spreads in Middle East and Europe

U.S. crude dropped below $50 on Wednesday to its lowest since January 2019, as Asia, Europe and oil-producing countries in the Middle East reported hundreds of new coronavirus cases and the United States warned of an inevitable pandemic.

BlackRock Vice Chairman and co-founder Barbara Novick to step down

BlackRock Inc’s vice chairman and co-founder, Barbara Novick, will step down from her day-to-day duties at the asset manager, according to an internal memo seen by Reuters.

Ford’s incoming COO focuses on cost cuts, launches, change

Ford Motor Co’s incoming chief operating officer will outline on Wednesday his priorities for the company’s turnaround, including cost cuts and more efficient new-vehicle launches in a year that includes the introduction of a redesigned F-150 full-sized pickup truck.

Futures look for direction after four-day selloff

U.S. stock index futures were mixed on Wednesday after the Dow and the S&P 500 indexes suffered their sharpest four-day fall in more than two years on fears of the economic damage from the global spread of the coronavirus.

World shares slump for fifth day, bets grow on rate cuts to counter damage

World stocks tumbled for the fifth straight day on Wednesday, while safe-haven gold rose back towards seven-year highs after health authorities warned of a possible coronavirus pandemic and markets stepped up bets on interest rate cuts.

Did The Coronavirus Just Infect The Markets?

Did The Coronavirus Just Infect The Markets?

As PeakProsperity’s Adam Taggart writes, for too many years now, the financial markets have been conditioned that œdips don’t last . Confident that the Fed will always provide the liquidity needed to push assets higher, investors have come to believe that risk doesn’t matter.

But, after the last few days of market carnage…

Trump To Hold News Conference At 6pmET To Dispel Media’s “Fake News, Panicking” Over Virus Outbreak

Trump To Hold News Conference At 6pmET To Dispel Media’s “Fake News, Panicking” Over Virus Outbreak

Having already urged the American public to ‘buy the dip’, just before another 900 point drop in the Dow, President Trump has decided to take matters into his own hands – the only way he knows how.

Futures Spike After Germany Yanks “Debt Break”: Berlin To “Temporarily Suspend” Limit On Public Borrowing

Futures Spike After Germany Yanks “Debt Break”: Berlin To “Temporarily Suspend” Limit On Public Borrowing

The Germans may have opposed closing borders in response to the outbreak in Italy, but it appears Berlin is planning to do something about the outbreak.

According to reports, the Germans are stepping up to suspend Berlin’s longstanding constitutional “debt break” and deliver the fiscal stimulus for which economists have been begging.

To try and prevent a full-blown recession as economists downgrade their projections for European economic performance, the German government is planning to temporarily suspend constitutional limits on public borrowing in order to offer debt relied to struggling municipalities.

GERMANY PLANS TO TEMPORARILY SUSPEND LIMIT ON PUBLIC BORROWING

Futures jumped on the headline, as the Germans openly endorsed the prospect of a robust fiscal stimulus to buttress the global economy against any virus-related fallout.

“A Cry For Help”: Global Sell-Off Accelerates On Rising Coronavirus Panic

“A Cry For Help”: Global Sell-Off Accelerates On Rising Coronavirus Panic

With little other data to guide risk sentiment, traders remained in thrall to the barrage of coronavirus headlines with last week’s bizarre complacency now completely shattered as volatility soars.

Panagariya says India’s economic slowdown has bottomed out

Panagariya says India’s economic slowdown has bottomed out”On the slowdown, my own assessment is that we have bottomed out,” Panagariya said.

Next on govt’s list: Discoms’ privatisation

Next on govt’s list: Discoms’ privatisationThe government plans to encourage inefficient power utilities, called discoms, to seek privatisation.

Coronavirus sets off recession alarm bells

Coronavirus sets off recession alarm bellsAs cases spread, only some of the indicators investors use to monitor recession signals are flashing red.

Is fear of a Sanders presidency bern-ing markets?

Analysts and observers are increasingly pointing to the rise of Vermont Senator Bernie Sanders in the Democratic pool as one factor weighing on financial markets.

Starbucks to launch plant-based Beyond Meat sandwich in Canada

The Beyond Meat, Cheddar and Egg Sandwich will become part of the core menu at Starbucks in Canada.

The Number One: Warren Buffett’s Berkshire Hathaway hailed as the ‘No. 1 retirement stock in America’ by former hedge-fund manager

Your retirement is safe in the hands of Warren Buffett, according to Whitney Tilson.