With stock markets hitting record highs last week, is the Coronavirus scare over?
Some might view the coronavirus as being priced into the market, but Friday’s price action and close tells us that we are not in the clear. The coronavirus still remains the biggest threat to the markets given the disruption it’s causing globally and on supply chains, not to mention the hit that economic growth is taking in China.
So be prepared for days like Friday where the Dow can drop close to 300 points on coronavirus worries.
For the week ahead, the coronavirus will remain a focus as the number dead, sadly, continues to move closer to 1,000. For economic news, two main data points of interest are small business optimism – here, let’s see what affect the coronavirus has on small businesses – and second, let’s look at the Job Openings and Labor Turnover Survey. Here, let’s look at the number of job openings available and what the trend is in job openings.
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