^GSPC - S&P 500
| Previous Close | 3,373.94 |
| Open | 3,378.08 |
| Volume | 1,667,357,285 |
| Day's Range | 3,366.15 - 3,380.69 |
| 52 Week Range | 2,722.27 - 3,385.09 |
| Avg. Volume | 3,566,461,967 |
- Bloomberg
Europe Stocks Rise With U.S. Futures on China Lift: Markets Wrap
(Bloomberg) -- European equities climbed alongside U.S. index futures on Monday following China’s pledges to support its economy in the face of the coronavirus outbreak. The yen and gold both slipped.Carmakers led a modest gain in the Stoxx Europe 600 Index, while HSBC Holdings Plc climbed before reporting earnings Tuesday. Health-care giant Bayer AG dropped after losing its first U.S. trial over the herbicide dicamba. Contracts on the three main American indexes increased, though Wall Street was shut for a holiday and Treasuries didn’t trade. European bonds were mixed. The euro eked out a small gain after closing at its lowest since early 2017 on Friday, while the dollar was steady against a basket of its biggest peers.China’s plans to reduce corporate taxes and fees helped push up the benchmark CSI 300 Index, which has now recouped its losses from an almost 8% tumble when trading resumed after the Lunar New Year break. The momentum failed to buoy other Asian markets, however, as stocks dipped in Seoul and Sydney while Japan’s Topix Index dropped after news the country’s economy shrank the most since 2014 last quarter.Investors in risk assets are beginning the week on the front foot after China’s central bank also said it will let banks run up more non-performing loans. Bloomberg Economics estimated the country’s economy ran at just 40% to 50% capacity in the past week, underscoring the short-term damage done by the coronavirus. Cathay Pacific Airways Ltd., which counts on China and Hong Kong for about half of its revenue, gave a “significant” profit warning and blamed the pathogen.“If the Chinese economy does recover and you’ve added all this fiscal and monetary stimulus into it as well, the situation could be that you have much stronger emerging markets into the second half,” Sunny Bangia, a fund manager at Antipodes Partners Ltd., said on Bloomberg TV. “A lot depends on how this virus gets contained and if it can morph into something more minor.”Hubei, the province at the epicenter of the outbreak, reported 1,933 new cases, slightly higher than a day earlier. Concern also built around reports that more than 3,000 travelers on two coronavirus-stricken Carnival Corp. cruise ships are returning home, fanning out to more than 40 countries. Singapore’s government cut its growth forecasts, citing uncertainty over the length and severity of the outbreak. The country is expected to unveil a large stimulus package to mitigate the economic hit.Elsewhere, Bitcoin fell as much as 8.4% from Friday, slipping back below $10,000. WTI crude oil held at about $52 a barrel.Here are some key events coming up:Earnings season rolls on with results from companies including: BHP Group Ltd. on Monday; Tuesday brings Glencore Plc, HSBC Holdings Plc and Walmart Inc.; Deere & Co. results are set for Friday.Germany’s ZEW survey of investor confidence is due Tuesday.Minutes of the most recent Federal Reserve meeting are published on Wednesday.Indonesia is expected to cut interest rates on Thursday, following emerging-market peers from Brazil to South Africa which have lowered borrowing costs already this year.These are the main moves in markets:StocksThe Stoxx Europe 600 Index advanced 0.3% as of 4:50 p.m. London time.Futures on the S&P 500 Index increased 0.2%.Nasdaq 100 Index futures climbed 0.4%.The MSCI Asia Pacific Index fell 0.3%.The MSCI World Index was little changed.CurrenciesThe Bloomberg Dollar Spot Index was little changed.The euro climbed 0.1% to $1.0838.The Japanese yen weakened 0.1% to 109.92 per dollar.The offshore yuan strengthened 0.1% to 6.9833 per dollar.BondsGermany’s 10-year yield was unchanged at -0.40%.Britain’s 10-year yield advanced one basis point to 0.641%.France’s 10-year yield declined one basis point to -0.163%.Japan’s 10-year yield slipped one basis point to -0.033%.CommoditiesWest Texas Intermediate crude gained 0.1% to $52.12 a barrel.Gold weakened 0.1% to $1,581.77 an ounce.LME aluminum decreased 0.1% to $1,720 per metric ton.Iron ore advanced 1.2% to $88.80 per metric ton.\--With assistance from Andreea Papuc and Adam Haigh.To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Yakob PeterseilFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Investor's Business Daily
Dow Jones Futures: Walmart Earnings Due, 3 IPOs Near Buys; Warren Buffett Stock Set To Break Out
Futures: Walmart, Medtronic and InMode earnings are due Tuesday. IPO stocks InMode, Progyny, Ping are near buy points. So is Taiwan Semiconductor. Buffett-boosted RH is likely to break out.
- MarketWatch
Pier 1 files for Chapter 11 bankruptcy, seeks buyer
Retailer Pier 1 has filed for Chapter 11 bankruptcy protection, reports the Wall Street Journal. The filing reportedly was made Monday, with U.S. stock markets closed for Presidents Day, in federal bankruptcy court in Richmond, Va. The Fort Worth, Texas-based home-décor chain had said a month ago that it was shuttering half its stores but might be unable to stave off bankruptcy. The company said in a news release that it would seek a buyer. Shares of Pier 1 are down more than 80% over the past year, and 44% since the start of 2020 alone, as compared with gains of 22% an 4.6% by the benchmark S&P 500 over those spans.
- MarketWatch
Away from S&P 500 and other top indexes, markets are behaving as if it’s late in the cycle: Morgan Stanley strategist
You would have a hard time convincing someone looking at the major U.S. stock-market benchmarks that it is looking like the end of the cycle. Yet Andrew Sheets, chief cross-asset strategist at Morgan Stanley, says there are late-cycle indicators in current markets.
- MarketWatch
Delta’s CEO offers a simple solution to the raging debate over reclining seats on airplanes
Delta Air Lines Inc. Chief Executive Officer Ed Bastian weighs in on a simmering debate about the proper protocol when reclining one’s seat on a flight.
- Zacks
Should You Invest in the Invesco S&P 500 Equal Weight Industrials ETF (RGI)?
Sector ETF report for RGI
- MarketWatch
Here’s which markets are open, and closed, this Presidents Day
U.S. financial markets will stay shuttered on Monday in observance of Presidents Day.
- Zacks
Buy 5 Top Stocks Poised to Beat Earnings Estimates This Week
Fourth-quarter 2019 earnings results have been improving significantly.
- Barrons.com
Tennessee’s Treasury Sold GE, GM, and Verizon Stock. Here’s What It Bought.
The Tennessee Department of Treasury made some big changes in its stock investments in the last quarter of 2019. The department, which manages all of the state’s investments, including its pension fund, reduced investments in (GE) (ticker: GE), General Motors (GM) and (VZ) Communications stock (VZ) in the fourth quarter. Tennessee’s treasury also bought more (WMT) stock (WMT).
- FX Empire
EUR/USD Daily Forecast – Euro Consolidates Near 33-Month Low
The euro showed broad-based weakness last week but the momentum has slowed and EUR/USD is seen falling into a consolidation near lows not seen since 2017.
- FX Empire
Week Ahead: “Covid-19, And The ‘Cleanest Dirty Shirt’ Argument”
Investors took solace in robust economic data, better-than-expected earning reports and the fact a quorum of the global central banks have the markets back which we will highlight in the Asia Week Ahead section.
- FX Empire
Asia Open: The Schitts Creek Scenario
The US market is closed for Presidents Day, so in the absence of an unexpected headline shock action could be a bit muted as it typically is during a US holiday weekend.
- Barrons.com
Walmart, ViacomCBS, Deere, and Other Stocks for Investors to Watch This Week
Markets are closed on Monday. Then, fourth-quarter earnings season continues with earnings from Walmart, Deere, ViacomCBS, Analog Devices, and more.
- MarketWatch
Two years after the Tax Cuts and Jobs Act — who are the winners and the losers?
With tax filing season now underway, we have two full years of the Tax Cuts and Jobs Act (TCJA) changes in the rearview mirror: 2018 and 2019. Not surprisingly, the answers depend on your specific situation and, just as importantly, your perceptions. Perceptions often override reality.
- Barrons.com
Apple, Microsoft, and Intel Stock Have Been Killing It. Why Fund Managers Don’t Have Enough.
(MSFT)(INTC) and (AAPL) among the biggest stocks in the S&P 500 index, have well outpaced the market benchmark in the past 12 months. “MIA” stocks is an apt term, given the trio has been underweighted by fundamentally-driven large-cap portfolio managers, according to Harvey. “Ironically, some [portfolio managers] admit they have not gone ‘up-cap’ in order to avoid looking like an index fund (painful mistake!),” he wrote.
- Barrons.com
Giant Canadian Fund Sold Disney and Starbucks Stock. Here’s What It Is Buying.
The Ontario Teachers’ Pension Plan, one of the biggest pensions in the world, more than doubled its BlackBerry stockholdings in the fourth quarter.
- MarketWatch
Here are vulnerable parts of the U.S. economy that coronavirus may infect
Festering worries about the spread of COVID-19 is a potential peril for the U.S. economy, but ailing manufacturers and tepid investment are already muzzling growth.
- MarketWatch
Here’s the segment of the economy that may benefit from fears of coronavirus, analysts say
As the COVID-19 spreads and the patient count and death toll grow, economists are slashing their once-rosy expectations for global growth in 2020.
- MarketWatch
Here’s how one ‘black swan’ investor is protecting his $5 billion fund against a market crash that ‘won’t be pretty’
Mark Spitznagel of Universa Investments is getting ready for the next big drop, but he says he’s fine if it never comes.
- MarketWatch
Warren Buffett had a tough year — how might he explain it?
We’ll know Feb. 22, when Berkshire Hathaway earnings and Warren Buffett’s shareholder letter are published.
- MarketWatch
Afraid of sky-high stock valuations? Consider this ‘deep value’ strategy
There’s no shortage of arguments that the U.S. stock market, whose main benchmark indexes are at record highs, is overvalued. If your investment portfolio is concentrated in an index fund, you might feel you are properly diversified, but there’s a good chance your risk is concentrated among a short list of companies. Jim Roumell, the founder of Roumell Asset Management of Chevy Chase, Md., and manager of the Roumell Opportunistic Value Fund (RAMSX) offers an investment strategy that is truly different: A balanced fund that takes concentrated positions in micro-cap companies that he argues are grossly undervalued.
- MarketWatch
Berkshire Hathaway’s Charlie Munger warns of ‘wretched excess,’ says Tesla’s Elon Musk ‘may overestimate himself’
Munger, who serves as chairman for the Daily Journal along with his Berkshire role, cited the increasing use of EBITDA — earnings before interest, taxes, depreciation and amortization — as an example of that excess. “I don’t like when investment bankers talk about EBITDA, which I call ‘bulls**t earnings,’” Munger, 96 years old, explained.
- MarketWatch
Veteran strategist eyes health care and financials in anticipation of ‘choppy and frustrating’ markets
Bob Doll, chief equity strategist at Chicago fund manager Nuveen, says markets are priced for good news. But he also doesn’t expect a recession.
- MarketWatch
Trump administration considers proposing new tax incentives for stock buying: report
The Trump administration is considering making it possible for Americans to invest more in the stock market on a tax-free basis, according to a report on Friday citing four unnamed administration officials.
- Barrons.com
Inside Berkshire Hathaway’s Future Without Warren Buffett
When Warren Buffett turns 90 years old in August, it would be only natural for (BRKA) shareholders to celebrate his success—and worry about the future of the extraordinary company he built. In his 55 years at the helm as CEO, chairman, and investment chief, Buffett turned a struggling textile maker into a $555 billion conglomerate, using investment skills that became the envy of American business. An investor who put $1,000—roughly 50 shares—in Berkshire in 1965 would now have $20 million, against $175,000 for a similar investment in the S&P 500index.
