Monday's Market Minute: Risk-Off Sentiment As Coronavirus Concerns Continue

Global indices are lower to start the week as coronavirus concerns continue to weigh on investor sentiment. The move sent U.S. 10-yr. Treasury yields to their lowest levels since 2016 and also has Gold nearing the 1700 dollar level for the first time in eight years. This comes as authorities struggle to keep the virus contained, the spread of which appears to be slowing in China but speeding up in other areas such as Italy. In Milan, there are reports of tens of thousands of people on lockdown after more than 150 cases of the virus recently erupted. And it’s not just global indices taking a hit.

Crude WTI traded back to within a dollar of last week’s low and just a buck off the 2020 low of 49.31. The economic calendar for today is light but things heat up throughout the week. Today, keep an eye on the Chicago and the Dallas Fed data as well as Loretta Mester’s speech at 3 p.m. ET. Later in the week, we have GDP and Durable Goods Orders on Thursday, and on Friday it’ll be all eyes on Personal Income and Spending.

So, hold on to your hats and keep your hands inside the vehicle at all times – it could be a wild ride today. Stay tuned to the TD Ameritrade Network for coverage of all the breaking news and market reactions — the information you crave about the markets you trade!

Image by Matt why do you need my last name? from Pixabay