Message from Jon
With China's government stepping in to provide liquidity economically as a result of the concerns over the coronavirus, the general markets have rebounded nicely and also quite rapidly.1
I think this coronavirus will continue to grab headlines as more and more cases develop-and the death toll rises as a result. I am not sure however; Wall Street will care until it begins to directly impact profits and earnings, unfortunately.
We are still in earnings season, and you should expect continued volatility for some time, in my opinion. Do not become lured into the FOMO effect. Remember, what goes up must come down!
I will be traveling for business these next two weeks and will be responding to email intermittently, but Bambrah and the staff are all here to help with your needs. As a result, your next two email newsletters will not carry any direct comments from me.
Have a great week!
Equities Slip on Virus Concerns
WEEKLY UPDATE - FEBRUARY 3, 2020
The Week on Wall Street
Stock benchmarks declined for a second straight week as coronavirus news tempered risk appetite.The S&P 500 fell 2.14% on the week. The Nasdaq Composite dipped 1.76%, and the Dow Jones Industrial Average, 2.55%. Away from North America, developed markets slumped 2.24%, according to MSCI's EAFE index.
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