January 31, 2020 7:34am
Also, the U.K. is due to officially leave the European Union at 6 p.m. ET, marking one of the biggest political and economic shifts in modern Europe.
Pre-open indications: anything goes but, I’d be evaluating “bottoms”
My version of the morning’s numbers is written to be informative; it’s includes what happened or will beyond the headline and shapes today’s markets as seen by RMi - SUBSCRIBE
Dow future are DOWN -0.36% (-105 points), S&P futures are DOWN -0.35% (-12 points) and NASDAQ futures are DOWN -0.25% (-23 points)
U.S. stock index futures are to trade lower on Friday morning;
European stocks gave up early gains after the first two cases of the coronavirus were confirmed in the U.K.;
Asian Pacific stocks mostly rose as Chinese manufacturing data met expectations, with Japan’s Nikkei 225 leading gains which were contained by concerns over the coronavirus and its potential impact on the global economy.
Data Docket: personal income for December, consumer spending for December and core personal consumption expenditures for December will all be released at 8:30 a.m. ET. The Chicago Purchasing Managers Index (PMI) for January and a final reading of consumer sentiment for January will follow slightly later in the session.
China’s National Health Commission confirmed on Friday that there have been 9,692 confirmed cases of the coronavirus, with 213 deaths.
The World Health Organization (WHO) recognized the deadly pneumonia-like virus as a global health emergency on Thursday, citing concern that the outbreak continues to spread to other countries with weaker health systems. WHO’s designation was made to help the United Nations health agency mobilize financial and political support to contain the outbreak <CNBC>.
Sometimes, it is better to say nothing than be wrong by saying something. As the cell and gene therapy sector runs out of buyers, it runs into trouble (just like a fire that runs out of wood).
The problem is, we crave explanations because they give us an illusion of control.
Thursday night’s post’s title: “cell and gene therapy sector oozes to another pool of blood”
- The NASDAQ closed UP +23.77 points (+0.26%);
- The IBB closed down -1.70% and XBI closed down -1.18%;
- The range of the 4 upside was +0.24% (VCEL) to +4.37% (FIXX) while the 31 downside ranged from -0.63% (FATE) to -12.64% (AGTC);
- 2 out of the 4 upside had higher than the 3-month average volume;
- 7 out of the 31 downside had higher than the 3-month average volume;
January registered 10 positive, 8 negative closes and 2 holidays, to date.
- December register 11 negative and 10 positive closes
- November registered 1 holiday, 12 positive and 8 negative close;
- October registered 10 positive, 1 neutral and 14 negative closes;
Companies in my headlights – It’s your decision; I provide an idea and context:
Pre-open indications: I’m NOT touching anything
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.