What’s in Today’s Report:
- Current Market Catalysts: From Reopening and Remdesivir to Normalization and Nationalism
- Weekly Market Preview
- Weekly Economic Cheat Sheet (Jobs Report This Friday)
Futures are moderately lower as U.S./China tensions rise while markets begin to shift their focus towards when the economy will return to normal.
U.S./China tension over the origin of the coronavirus rose over the weekend as Secretary of State Pompeo said there was “enormous” evidence that suggests the virus was created in a lab.
Economically, the EU manufacturing PMI slightly missed expectations, coming in at 33.4 vs. (E) 33.6.
Today there are no notable economic reports nor any Fed speakers, so markets will trade off any U.S./China coronavirus tension headlines, along with any hints of when the economy might return to some semblance of “normal” as those two issues have now become the main drivers of stocks in the near term.