• 1879 Advisors

2/14/20 Market Notes

A sharp rise in reported coronavirus cause stocks to tumble at the open, as the Dow Jones Industrial Average lost more than 200 points by mid-day, before fighting back to the flat line before ultimately running out of steam to end the session 128 point, or nearly ½%, lower. The S&P fared much better, only losing a small fraction of a percent as a 1%+ gain in the utilities sector helped offset losses of the seven sectors that ended lower for the day. Inflation data was benign, climbing 0.2% as expected, while corporate earnings continued to slightly beat expectations – just enough to be encouraging and yet also unimpressive enough to most likely keep investors somewhat anxious. Asian and European bourses are mixed in overnight trading, while U.S. premarket equity futures are pointing to a flat open ahead of key economic data. Strong earnings by Nvidia (NVDA) shares are up more than 6% in pre-market trading on the back of strong earnings, the sharp move is helping lift the NASDAQ index futures to indicate ½% rise at the open. Looking ahead to next week, earnings season will be winding down as Walmart (WMT) is the last of widely held stocks to report earnings on Tuesday morning. The holiday shortened week will still provide investors with plenty of economic data to sift through, as well as Wednesday’s release of the FOMC meeting minutes and Chairman Powell’s press conference.


1879 Advisors

Disclosures: This market commentary is written by the 1879 Advisors and represents the views of 1879 Advisors. This commentary is not investment advice and should not be used as a basis to make investment decisions. Please consult with your registered investment advisor before making any investment decisions.

1 view0 comments

Recent Posts

See All