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Stocks Fall as Virus Fears Rise

Monday, January 27, 2020 08:40 AM | Bobby Raines

First Look

Stocks are sharply lower ahead of the opening bell Monday. The Wuhan coronavirus continues to spread and health officials are warning that it may not be possible to contain it using normal public health measures. The official death toll in China is now 80, while there are 2,744 confirmed cases in that country. Chinese officials have extended teh Luan New Year holiday to Sunday in an effort to help stop the spread. The S&P 500 is down -1.41%, the Dow Jones is down -1.44%, the Nasdaq is down -1.76%.

Today's Sentiment

Neutral

Quote of the Day

If you don't know where you are going, any road will get you there.
Lewis Carroll

Daily Action Trade

Stocks on the Move

Akamai Technologies, Inc. (AKAM), AbbVie Inc (ABBV) and Newmont Corporation (NEM) are moving higher this morning, while Wynn Resorts, Limited (WYNN), Devon Energy Corp (DVN) and Las Vegas Sands Corp. (LVS) are headed lower. Chewy Inc (CHWY), Synchrony Financial (SYF) and Chipotle Mexican Grill, Inc. (CMG) were upgraded by analysts this morning, while Intel Corporation (INTC), XPO Logistics Inc (XPO) and Intuitive Surgical, Inc. (ISRG) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is flat 0%, the Australia ASX All Ordinaries is flat 0%, the Australia ASX All Ordinaries is flat 0% the Mumbai Sensex is down -1.1% and the Nikkei 225 is down -2.03%. Stocks in Europe are down. The CAC 40 is down -2.26%, the DAX is down -2.25%, the Euro Stoxx 50 is down -2.16% and the FTSE 100 is down -2.15%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -1.67 at 52.52 per barrel. Brent crude is down -1.81 at 58.88 per barrel. Natural Gas is up 0.06 at 1.95. Precious metals are mixed this morning. Gold is up 12.53 at 1584.06 per ounce. Platinum is down -12.81 at 993.62 while silver is up 0.17 at 18.28. The dollar is mixed compared to the major currencies today. The greenback is flat against the euro, down against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 1,510,824 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 783,164 put contracts. The single-session put/call was 0.52.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 New Home Sales Dec 10:00

Earnings Expected Today

ARNC, ASH, BOH, BRO, BYND, CR, CSFL, DHI, ELS, FFIV, GGG, JJSF, JNPR, PKI, S, SSB, TCF, WHR

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