Afternoon Note
The day started off in the green, but the major indices were unable to hold on to those gains as the Center for Disease Control (CDC) warned Americans to get ready for disruptions. New coronavirus cases have been reported, including one in Switzerland. So far, there have been 80,238 cases reported, with 2,700 deaths. The CDC went on to say that the rate of the spread of the virus in Iran, Italy and South Korea has “raised our level of concern.”
The Dow is currently down -2.23%, the S&P 500 -2.07% and the Nasdaq -1.89%. All 11 S&P 500 sectors are in the red, with 3 sectors down over 2.25%.
S&P 500 Index |
-1.57% |
Communication Services (XLC) |
-0.92% |
Consumer Discretionary (XLY) |
-1.18% |
Consumer Staples (XLP) |
-0.81% |
Energy (XLE) |
-2.84% |
Financials (XLF) |
-1.86% |
Health Care (XLV) |
-1.93% |
Industrials (XLI) |
-2.27% |
Materials (XLB) |
-2.44% |
Real Estate (XLRE) |
-1.64% |
Technology (XLK) |
-1.42% |
Utilities (XLU) |
-0.92% |
Issues: |
NYSE |
NASDAQ |
Advancing |
2,212 |
2,224 |
Declining |
689 |
890 |
52 Week High |
203 |
156 |
52 Week Low |
12 |
23 |
Advancing |
1.35B |
827.70M |
Declining |
609.24M |
451.62M |
On the economic front, we received data today on the housing sector and the U.S. consumer.
The S&P Case-Shiller Home Price Index increased 3.8% annually, up from 3.5% in November. The 10-city composite rose 2.4%, up from last month’s increase of 2%, while the 20-city composite gained 2.9% from 2.5% in November.
In addition, the FHFA Housing Price Index increased 0.6% in December.
The Conference Board's Consumer Confidence Index rose to 130.7 in February from a revised 130.4 (from 131.6) in January. Despite the revision, there was not a major change in sentiment.
Comments |
The dems are scary. Raymond Farrelly on 2/25/2020 3:15:39 PM |
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