Evening Headlines
Bloomberg:
- Asia Extends Global Stock Rally on Stimulus Hope. Asian stocks extended a global equity rally after an emergency U.S. spending bill to combat the impact of the coronavirus added to signs of support from policy makers around the world. Treasuries edged higher and U.S. stock futures slipped. Equities climbed across the region with the Asian benchmark set for a fourth day of gains. Earlier, the S&P 500 surged more than 4% in the wake of Congress authorizing nearly $8 billion for virus prevention. The Bank of Canada joined this week’s wave of global central bank action and Australia’s finance minister on Thursday said stimulus will come very soon as speculation grew that governments will provide more help with the outbreak hitting economic growth prospects. Joe Biden’s surprise surge in Tuesday’s presidential primaries added to bullish sentiment. Treasuries nudged higher after the curve steepened on Wednesday, a sign investors see more U.S. stimulus coming. The yuan slipped after recouping all the losses since the coronavirus outbreak. Japan’s Topix index rose 1% as of 10:28 a.m. in Tokyo. South Korea’s Kospi climbed 0.5%. Hong Kong’s Hang Seng rose 0.5%. The Shanghai Composite added 0.8%. Futures on the S&P 500 Index dipped 0.7%. The underlying gauge advanced 4.2% on Wednesday. Australia’s S&P/ASX 200 Index gained 1.5%.
Wall Street Journal:
Fox News:
MarketWatch.com:
MarketWatch.com:
CNBC:
Zero Hedge:
Night Trading
Morning Preview Links
Earnings of Note
Company/Estimate
7:30 am EST
Other Potential Market Movers
Normal:
- Asian equity indices are +.25% to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 65.0 -3.75 basis points.
- China Sovereign CDS 43.0 -5.5 basis points.
- Bloomberg Emerging Markets Currency Index 63.99 -.05%.
- FTSE 100 futures +.41%.
- S&P 500 futures -.84%.
- NASDAQ 100 futures -.76%.
Earnings of Note
Company/Estimate
Before the Open:
After the Close:- (BJ)/.40
- (BURL)/3.23
- (CIEN)/.38
- (DCI)/.46
- (KR)/.55
- (TECD)/4.82
- (TTC)/.58
- (CHUY)/.12
- (COO)/2.72
- (COST)/2.06
- (LOCO)/.16
- (HRB)/.56
- (OKTA)/-.05
- (NX)/-.06
7:30 am EST
- Challenger Job Cuts for Feb.
- Initial Jobless Claims for last week are estimated to fall to 215K versus 219K the prior week.
- Continuing Claims are estimated to rise to 1738K versus 1724K prior.
- None of note
- The Japan Leading Index, OPEC meeting, weekly EIA natural gas inventory report, Bloomberg Consumer Comfort Index and the (TDOC) investor day could also impact trading today.
Normal:
- 9:30 am - 4:00 pm EST
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