Daily Markets: Cupid’s Arrow Missing Today’s Markets

Daily Markets: Cupid’s Arrow Missing Today’s Markets

Love may be the theme for today’s Valentine’s day, but the markets are mostly feeling, “I think I’ll just throw on my comfy sweats, grab a pint of ice cream and go for a Netflix marathon.” Or maybe that’s just us.

Yesterday investors continued to reassess risk concerning COVID-19, leaving the major US indices little changed. Today Asia closed mostly in the green, albeit just slightly, except for Japan’s Nikkei, which closed down just over 0.5%. Markets in Europe were mixed by mid-day trading, but little changed either way. US equity futures point to a slight increase at the open – another day with little direction.

Perhaps cupid and his arrows have investors distracted ahead of the long weekend in the US? Given Presidents’ Day in the US is Monday, markets will be closed so we wouldn’t be surprised to see traders taking a cautious stance into the weekend to avoid any COVID-19 surprises before markets re-open on Tuesday.

The tariff reductions agreed to as part of the phase one U.S-China trade deal…

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About the Author

Lenore Hawkins & Chris Versace
Lenore Hawkins serves as the Chief Macro Strategist for Tematica Research. With over 20 years of experience in finance, strategic planning, risk management, asset valuation and operations optimization, her focus is primarily on macroeconomic influences and identification of those long-term themes that create investing headwinds or tailwinds. Chris Versace is Tematica's Chief Investment Officer and editor of Tematica Investing newsletter. All of that capitalizes on his near 20 years in the investment industry, nearly all of it breaking down industries and recommending stocks.

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