Market Overview

Monday's Market Minute: Earnings, Ecodata & Coronavirus, Oh My!

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Monday's Market Minute: Earnings, Ecodata & Coronavirus, Oh My!

Markets remain on edge headed into the cash open for U.S. equities to start the week. With Asian markets selling off after opening for the first time in a week, the move lower is being seen as catch-up, as well as an attempt to get back in line with U.S. indices, which have been coming off all-time highs amidst demand concerns.

With reports of more cases of the fast-spreading coronavirus over the weekend – and with them continued border closures, canceled flights, and workers being told to stay home – investors are trying to determine if the global health crisis will become an economic one. The impact is being felt in crude oil, gold, copper, and other commodities. Even rates are seeing the impact, as the TNX got back to 1.5% last week. This week also brings some closely watched manufacturing data, including the ISM Manufacturing Index at 10 a.m. ET today, jobs reports throughout the week, and non-farm payrolls due out Friday. Also, keep your eye on some of the big names reporting quarterly results this week like Sysco Corporation (NYSE: SYY), Walt Disney Co (NYSE: DIS), and Alphabet Inc (NASDAQ: GOOG) to name a few.

And central bank activity continues with a rate decision from the Reserve Bank of Australia, which is expected to leave rates unchanged at 0.75% as brush fires and coronavirus unknowns combined with other domestic concerns have policy makers’ hands tied. It looks like another busy week – stay tuned to the TD Ameritrade Network for coverage of all the breaking news and analysis of market reaction to it!

Image Sourced from Pixabay

 

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