- Summary:
- Nasdaq 100 futures point to lower opening as CDC said it has the first case of someone with the coronavirus that did not recently return from Asia
Nasdaq 100 futures point to lower opening as CDC said it has the first case of someone with the coronavirus that did not recently return from Asia or come into contact with a person known to have the virus. The FDA warned that coronavirus (Covid-19) is near of becoming a pandemic. Stocks yesterday attempted a rebound but finally the session ended only with Nasdaq on the green. Yesterday was the first day that the number of new confirmed cases in the world surpassed the number of new cases in China.
The United States Gross Domestic Product (Annualized) came in at 2.1% in line with expectations for the fourth quarter. The Durable Goods Orders came in at -0.2% topping expectations of -1.5% in January. The Initial Jobless Claims came in at 219K, above the expectations of 212K in February 21. Nasdaq 100 futures are 1.83% lower at 8687. The Dow Jones futures are 1.53% lower at 26503, while the S&P 500 futures are 1.34% lower at 3068 pointing to a negative start in Wall Street.
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European Indices Down Almost 3%
European stocks give up over 3% as more coronavirus cases reported around the continent. The DAX Index is 2.74% lower at 12,421, the German Health Minister warned that Germany is on the verge of an epidemic and new cases are being detected that cannot be traced back to China visits. The CAC 40 is 2.89% lower at 5,520 while the FTSE 100 is 2.83% lower at 6,843. In Milan the FTSE Mib index is 2.59% lower at 22810.
Cryptocurrencies Rebound after a Weak Start
Cryptocurrencies finally rebound on midday after the three days sharp correction. The bitcoin (BTCUSD) is 0.43% higher at $8822. Litecoin (LTCUSD) is 2.57% higher at 61.97. Ripple (XRPUD) is 4.21% higher at 0.2385 while Ethereum is 2.10% higher at 228.59.
Crude Oil Slamps
Crude oil price is 3.25% lower at $47.14 amid the coronavirus spread in 45 countries around the globe. Brent crude oil is 3.33% lower at $51.54. Gold is on th bid for one more day, adding 0.65% higher at 1651. Silver price is 0.71% higher at $17.98.
In fx markets, the euro jumped above 0.85 against the British pound and against the USD. The EURUSD is 0.83% higher at 1.0972. The Aussie dollar rebounds against the USD, the AUDUSD is 0.51% higher at 0.6577. The USDJPY is 0.48% lower at 109.88. NZDUSD is 0.66% higher at 0.6328.