|Day's range||28,892.70 - 29,146.53|
|52-week range||24,680.57 - 29,568.57|
Headlines moving the stock market in real time.
Based on the early price action, the direction of the March E-mini Dow Jones Industrial Average the rest of the session on Friday is likely to be determined by trader reaction to an uptrending Gann angle at 29001 and a downtrending Gann angle at 28903.
Equities retreat following a surprise pullback in U.S. markets on Thursday. The risk of a coronavirus-driven market correction grow daily.
The yield on the 30-year US Treasury hit a record low and Wall Street posted its first weekly drop in three on Friday as renewed fears about the economic fallout of the coronavirus and disappointing data stirred concerns about the outlook for the US economy. The yield on the US 30-year bond fell below 1.9 per cent for the first time, sinking as much as 7 basis points to a record low of 1.89 per cent on Friday morning, New York time. The yield on the US 10-year was trading at 1.4713 per cent at pixel time.
Based on the early price action and the current price at 29043, the direction of the March E-mini Dow Jones Industrial Average the rest of the session on Thursday is likely to be determined by trader reaction to a pair of Gann angles at 28937 and 29031.
Equities retreat after the broad market hit a new all-time high in the previous session. Risks of virus-related correction continue to grow.
US and European stocks pulled back from record highs, with Wall Street’s main equities gauges at one point tumbling more than 1 per cent. The S&P 500 and Dow Jones Industrial Average each closed about 0.4 per cent below Wednesday’s record highs, staging gradual recoveries in the afternoon to recover from drops of as much as 1.3 per cent late in the morning session.
Thursday’s economic data earnings releases are poised to shed more light on the impact of the coronavirus to the domestic economy and individual companies.
The Federal Reserve is likely to keep interest rates where they are until mid-2020 but may need to cut them, Minneapolis Fed Bank President Neel Kashkari said.
Based on the early price action and the current price at 29358, the direction on the March E-mini Dow Jones Industrial Average the rest of the session on Wednesday is likely to be determined by trader reaction to the minor pivot at 29322.