Here is what you want to understand before markets open.
1. ) Stocks are sinking on fears of the deadly virus in China — ‘Markets are worried about this spreading to more cities.’ Investors are bracing for a broader outbreak of this mysterious coronavirus as countless millions of individuals travel around Asia to celebrate Chinese New Year this weekend.
2. Trump blasts Paul Krugman for predicting his election would spark a global recession. The president pointed to shares at record highs as proof the economist was incorrect to forecast his election could devastate the global market.
3. 6 people have now been killed by a mysterious virus in China, with authorities saying that almost 300 people are infected. The coronavirus was initially detected at the city of Wuhan, central China, in the conclusion of 2018.
4. ) Halliburton takes $2.2 billion charge on fracking, swings to loss. The oilfield-services giant took the fee because of weaker demand in North America, fuelling a total net reduction of $1.7 billion final quarter.
5. ) Central banks announce cooperation on digital currencies. The central banks of Britain, the eurozone, Japan, Sweden, and Switzerland will appear at possible instances for issuing their own digital monies.
6. ) North Korea says it won’t be bound by nuclear testing pledge. The dictatorship stated the US dismissed its yearlong deadline for atomic talks, and so it is not required to abide by obligations to stop nuclear testing and shooting of intercontinental ballistic missiles.
7. ) The Iranian government is turning on its military after it lied about the downing of a Ukrainian passenger plane. Iran originally insisted that the plane crashed due to technical problems, but days after it stated its Revolutionary Guard Corps taken down the Boeing 737-800 by error.
8. Global stocks have dropped. Fears of the escalating virus epidemic pushed China’s Shanghai Composite indicator down 1.4 percent, Britain’s FTSE 100 down 0.9 percent, also S&P 500 stocks down 0.3 percent.
9. It’s a quiet day for data. Redbook Index amounts and Treasury bill auction details are coming out.
10. Some major earnings are out today. Netflix and IBM are on this listing.