Wall Street Rally Tops Overseas Markets
The major U.S. stock benchmarks are hitting record highs and shrugging off uncertainty. Bets on diversifying overseas are not paying off as well as the domestic markets even amid elevated valuations.
US Jobs Growth Accelerates
Nonfarm payrolls accelerated as 2020 got underway but the unemployment rate ticked higher in January. The better-than-expected jobs report boosts sentiment as uncertainty over the coronavirus outbreak hangs over the global market.
China Slashes Tariffs on US Goods
China plans to reduce tariffs on $75 billion worth of US products, beginning February 14. Economic impacts of the coronavirus outbreak are adding some uncertainty to overall sentiment as China delays the release of trade data.
Markets Recover from Coronavirus Selloff
Coronavirus fears sparked quite a selloff, but now markets seem to be recovering. The S&P 500 had its best day in a long time closing up 1.5% and the tech-heavy NASDAQ hit a new record high ahead of the State of the Union. Also, according to economic data from ADP and Moody's Analytics, private payrolls rose by 291,000 in January.
Black Gold Takes a Hit
Oil prices staged a partial recovery as OPEC+ and China consider how the coronavirus will affect oil demand. As February kicked off WTI fell below $50/bbl for the first time in over a year on concerns of weaker fuel consumption.
Yield Curve Inverts on Growth Worries
The yield on the 10-year Treasury note briefly fell below the 3-month bill. This was the first time since October that the phenomenon flashed and raised recession concerns.
View From the Floor
From the headwinds to the tailwinds that sway market sentiment, the focus is on fundamentals and geopolitics that can create whirlwinds in the investing landscape. This channel features updates from the NYSE and the NASDAQ MarketSite.