What’s in Today’s Report:
- Earnings Season Update (Not Great, But Not Bad, Either)
- What’s Up With Natural Gas?
Futures are flat as concern about the Wuhan coronavirus offset better than expected earnings.
Chinese authorities expanded the quarantine zone around Wuhan to limit the transmission of the disease, and that’s increasing fears of a bigger negative economic impact.
Earnings overnight were solid as TXN beat estimates, boosting semi-conductors and tech more generally.
Today we get an ECB Announcement, but no change in rates is expected and really markets will just want to hear a dovish tone from new ECB President Lagarde (which should happen).
Away from the ECB, Jobless Claims (E: 213K) is the key economic report, while earnings season continues to roll on. Some reports we’re watching today include: PG (E: $1.37) and INTC (E: $1.24).