Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News

News :
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

TrackInsight: Stocks shrug off the Coronavirus Outbreak

share with twitter share with LinkedIn share with facebook
share via e-mail
02/18/2020 | 10:15am EDT

Week from 10 to 16 February 2020

14.2.20 Global Flows Map

Week from 10 to 16 February 2020

The bull trend showed no sign of abatting at the beginning of the week, Wall Street racing to new all-time highs, driven by growing hopes that the coronavirus could reach its peak this month. China’s senior medical adviser said on Tuesday the number of new cases was falling in some areas and forecast the outbreak may be over by April. Unfortunately, Chinese factories are still struggling to get back to work after the extended Lunar New Year holiday. Furthermore Capital Economics estimated in a note on Friday that the efforts to contain the deadly virus could cost the world economy over $280bn in Q1 2020.

However, global stock markets seemed to ignore the impact of the epidemic on the future corporate earnings as well as the poor data from U.S. factories (industrial production down 0.3% in January). By contrast, retail sales rose 0.3% in the same month. So far so good. Besides, U.S. Fed Chair Jerome Powell reaffirmed on Tuesday that the U.S. economy is resilient.

The S&P500 therefore climbed 1.58%, the Nasdaq Composite added 2.21% and the Dow Jones Industrial Average gained 1.02%. European and emerging stock markets also pushed higher (MSCI EMU and MSCI EM up 1.36% and 1.34% respectively), following Wall Street. Last but not least, things were looking up for Chinese shares (Shanghai Composite: +1.43% after four weeks in the red and a peak-to-valley drawdown of 7%).

All the S&P sectors finished in positive territory but it is worth noting that the most defensive segments were the best performers (real estate: +4.81% ; utilities: +2.43%). Consumer discretionary also fared well (+2.43%) thanks to the strength of the American consumer. Unsurprinsingly, tech stocks continued to reign on Wall Street (+2.27%), especially with the chipmaker Nvidia rallying sharply (+15.2%) in the wake of a stellar earnings report. On the other hand, energy lagged behind (only +0.31%) though crude oil futures rebounded amid reports of renewed buying by Chinese refineries (WTI crude up +3.44%).

On the safe haven side, Treasuries and investment grade bonds were virtually unchanged but gold prices rose again (+0.90%). The coronavirus also helped the greenback (EUR-USD breaking through the 1.0850 level).

In the credit space, high yield bonds remained healthy (+0.45% in the U.S.) and emerging debt bounced back (+0.63% in local currencies) after two weeks of losses.

Find the full report here: https://www.trackinsight.com/en/weekly-flow-report/2020-02-14/global

14.2.20 Global Aggregated Weekly Flows
14.2.20 Global Aggregated Weekly Performance
14.2.20 Global Winners Losers

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -3.47% 21158.75 Delayed Quote.-21.76%
EURO / US DOLLAR (EUR/USD) -0.92% 1.09294 Delayed Quote.-1.66%
GOLD 0.91% 1591.77 Delayed Quote.6.50%
LONDON BRENT OIL -4.27% 24.85 Delayed Quote.-62.08%
NASDAQ 100 -2.88% 7590.227309 Delayed Quote.-13.11%
NASDAQ COMP. -3.18% 7457.347628 Delayed Quote.-16.39%
NVIDIA CORPORATION -3.77% 253.95 Delayed Quote.12.03%
S&P 500 -3.74% 2488.66 Delayed Quote.-18.70%
S&P/CITIC 300 INDEX 0.03% 3215.44 Delayed Quote.-9.20%
S&P/CITIC 50 INDEX 0.04% 3270.29 Delayed Quote.-12.35%
WTI -0.32% 20.23 Delayed Quote.-62.40%

© www.trackinsight.com 2020
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news
12:37pSL AMONG COUNTRIES VULNERABLE TO CONTAGION SHOCKS : Moody's
AQ
12:37pINTERACTIVE BROKERS : Reports Brokerage Metrics and Other Financial Information for March 2020, includes Reg.-NMS Execution Statistics
BU
12:36pATRIUM EUROPEAN REAL ESTATE : Proxy for book entry interest holders
PU
12:36pKRUK SPÓLKA AKCYJNA : launches bond repurchase
PU
12:36pSUBSEA 7 S A : share repurchase
AQ
12:35pHERIGE : 2019 results
AN
12:35pHAVERTY FURNITURE : Havertys Provides COVID-19 Update and Extends Store Closures
AQ
12:34pWALL STREET STOCK EXCHANGE : U.S. Stocks Fall After Trump Issues Warning on Pandemic
DJ
12:33pEU exec proposes shorter work hours to prevent layoffs amid epidemic
RE
12:33pWALL STREET STOCK EXCHANGE : Dow falls 600 points to start second quarter as virus anxiety grows
RE
Latest news