What’s in Today’s Report:
- Political Update
- S&P 500: Market Multiples Price Chart
U.S. stock futures are up over 1% this morning, tracking solid gains in international markets after China’s central bank initiated another round of emergency stimulus overnight.
The PBOC has injected over $240B into the financial system this week to ease the economic impact of the coronavirus outbreak.
Politically, the official results for the Iowa caucuses have been delayed due to technical issues with voting apps but sources say that the results should be released later today.
Looking into today’s session, there are two lesser followed economic data points due out: Motor Vehicle Sales (E: 16.8MM) and Factory Orders (E: 1.2%) while no Fed officials are scheduled to speak.
That will leave focus on the delayed results from the Iowa caucuses as well as earnings from several big names including: DIS ($1.43), F ($0.17), STX ($2.72), ALL ($3.12), PRU ($2.01).
Lastly, the market remains sensitive to the coronavirus outbreak and any significantly negative headlines regarding the spread of the virus or a rising mortality rate could weigh on stocks again.