Indices Futures Prices
- S&P 500 Now Lower on the Year - U.S. Dollar Higher
Flight to quality buying continues to come into the U.S. dollar.
- S&P500 can start correction to 3283.25 while trading above 3243.5
The uptrend may be expected to continue, while pair is trading above support level 3243.50, which will be followed by reaching resistance level 3283.25...
- China Virus Takes Cemter Stage
On Friday the markets retreated based on the coronavirus scare from China. Will that change today? Read on to learn more...
Futures Market News and Commentary
The S&P 500 Index ($SPX) on Monday closed down by -3.35%, the Dow Jones Industrials Index ($DOWI) closed down -3.56%, and the Nasdaq 100 Index ($IUXX) closed down -3.89%.
U.S. stock indexes sold off sharply Monday with the S&P 500 and Nasdaq 100 at 3-week lows, and the Dow Jones at a 2-1/4 month low, on concern that the spread of the coronavirus beyond China will cause new global economic damage. Confirmed cases of the virus are now reported at 79,440 in more than 30 countries and have caused 2,624 deaths.
European stocks on Monday also fell sharply as the Euro Stoxx 50 closed down -4.0% at a 2-1/4 month low. A slight positive for European stocks was Monday's news that the German Feb IFO business climate index unexpectedly rose +0.1 to 96.1, stronger than expectations of -0.6 to 95.3.
G-20 finance ministers after their weekend meeting in Saudi Arabia warned that they see downside risks to global growth persisting as the coronavirus raises economic uncertainty an... Read more