Nasdaq 100 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Tuesday closed down -0.29%, the Dow Jones Industrials Index ($DOWI) closed down -0.56%, and the Nasdaq 100 Index ($IUXX) closed up +0.06%.
U.S. stock indexes settled mostly lower Tuesday as losses in Apple and its suppliers pressured stock indexes. Apple fell -1.9% Tuesday after it said the fallout from the China coronavirus would cause it to miss its sales targets for Q1. The China coronavirus continues to proliferate with 73,424 confirmed cases and 1,873 deaths.
Concern about European economic growth was also bearish for stocks after Tuesday's Eurozone Jan new car registrations fell -7.5% y/y to 951,000, the biggest decline in 5 months. Also, the German Feb ZEW survey expectations of economic growth index plunged by -18.0 points to 8.7, weaker than expectations of -5.2 to 21.5. Monday's monthly economic report from the Bundesbank was also negative for European stocks with its comment that the China coronavirus is a "cyclical downside risk"... Read more