S&P 500 Materials Futures Market News and Commentary
The S&P 500 Index ($SPX) on Friday closed down -1.05%, the Dow Jones Industrials Index ($DOWI) closed down -0.78%, and the Nasdaq 100 Index ($IUXX) closed down -1.88%.
U.S. stock indexes settled moderately lower Friday with the S&P 500 and Nasdaq 100 at 1-1/2 week lows, and the Dow Jones at a 2-1/2 week low, on concern that the spread of the coronavirus beyond China will cause new global economic damage. Confirmed cases of the virus in South Korea have topped 200 and have neared 100 in Japan, while global cases of the virus have risen to 76,700 with 2,247 deaths.
U.S. stock indexes were also undercut by Friday's news that the Feb Markit manufacturing PMI fell -1.1 to 50.8, weaker than expectations of -0.4 to 51.5 and the slowest pace of expansion in 6 months.
Other global manufacturing data on Friday was mixed for stocks. The Eurozone Feb Markit manufacturing PMI unexpectedly rose +1.2 to a 1-year high of 49.1, stronger than expectations of -0.5 to 47.4. Also, t... Read more