JakeNovakNews.com









STOCKS/ECONOMY


-Stock futures are lower after the S&P 500 and the Nasdaq finished at all-time closing highs on Friday. We get more key earnings reports today.


-The yield on the 10-year Treasury bond is down to 1.54 percent, with the 2-year yield 15 basis points behind at 1.39 percent.

-Gold is up to the $1,590 per ounce level. Bitcoin is down to the $9,700 level.

-Asian markets closed mostly lower today, with Hong Kong's Hang Seng index the biggest loser after falling 1.5 percent.

CORONAVIRUS LATEST

-The total death toll from the virus in China is now at 1,868, with 72,436 confirmed cases.

-China says it has a new test for the virus that cuts down the wait time for results from hours to minutes.


-The director of the Wuchang Hospital in Wuhan has died of the coronavirus. He was 51 years old. 

APPLE WARNING

-Apple says it doesn't expect to meet its quarterly revenue forecast because of iPhone supply problems connected to the coronavirus outbreak. Apple shares are down 3.5 percent in the premarket.

WALMART EARNINGS MISS

-Walmart reported weaker than expected quarterly profits, revenues, and same store sales this morning. The company said weaker demand for toys, clothes, and video games during the holiday season were to blame. Walmart shares are down 1 percent in the premarket.

OIL/ENERGY

-U.S. crude prices are down almost 2 percent and at the $51 a barrel level.

-Gasoline prices are up to $2.44 a gallon, national average.

HSBC HURTING

-HSBC reported weaker than expected quarterly profits and also announced plans to cut 35,000 jobs. HSBC shares are down 6.5 percent in European market trading today.

BOY SCOUT BANKRUPTCY

-The Boy Scouts of America filed for bankruptcy this morning as it faces mounting legal costs from sexual abuse lawsuits. The BSA says it hopes to use the bankruptcy to set up a victim's compensation fund and then carry on its overall mission.

BEZOS GREEN FUND

-Amazon founder and CEO Jeff Bezos is launching the Earth Fund, which will issue grants to scientists, activists, and other organizations to "protect and preserve the natural world." Bezos is pledging $10 billion to the fund.

DEALS/NO DEALS

-Canada's Bombardier is selling its rail division to France's Alstom for $6.7 billion. Alstom shares are down 4.6 percent in European market trading on the news. Bombardier is now solely going to focus on its aerospace business.

-The Wall Street Journal reports that Franklin Resources is in talks to buy rival asset manager Legg Mason.

-Dell is in talks to sell its RSA cybersecurity business to STG Partners for $2 billion.

DUPONT CHANGES


-DuPont's CEO and CFO are leaving the company after it failed to meet growth expectations for 2019. DuPont has now brought back Ed Breen as CEO and Lori Koch will be CFO. 

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