” The Federal Reserve is committed to using its full range of tools to support households, businesses, and the U.S. economy overall in this challenging time. The coronavirus pandemic is causing tremendous hardship across the United States and around the world. Our nation’s first priority is to care for those afflicted and to limit the further spread of the virus. While great uncertainty remains, it has become clear that our economy will face severe disruptions. Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate. “
Read more about the new measures to support the economy :
“I don’t think so and I certainly hope not,” Powell said. “There’s no reason why the expansion can’t continue. There’s nothing about this expansion that is unstable or unsustainable.”
Powell said the U.S. economy is in a “very good place,” pointing to job creation and moderate growth in a sluggish global growth environment. Despite weak manufacturing numbers, Powell said trade-related uncertainties have “diminished.”
Coronavirus risk not yet “material”
The Fed appears poised to hold rates steady at the current range between 1.5% to 1.75%, insisting that only a “material” change in the outlook would push the Fed to make a move on rates.
Powell said the coronavirus-related impacts on the U.S. economy would have to be “persistent” for the Fed to deem it a material change.
We are again in the stock earnings period, and stock earnings calendar are set to add volatility in the stock market. Notable earnings today are:
“At least one beneficiary has emerged from Boeing’s ongoing mess with its flagship plane. Airline giant Delta (DAL) posted fourth quarter profits that beat Wall Street’s estimates — citing an influx of customers that fled rivals because of canceled flights stemming from the 737 MAX’s grounding. The stock surged over 4% in pre-market action from Monday’s close.”
“JPMorgan shares rise after big Q4 earnings beat Shares of JPMorgan Chase (JPM) jumped more than 1.5% in early trading after the largest U.S. bank by assets reported much stronger than expected fourth-quarter results.
Here were the key figures versus the expectations, according to analysts polled by Bloomberg.
Revenue (adjusted): $29.2 billion vs $27.9 billion expected.
Earnings per share (adjusted): $2.57 vs $2.36 per share expected
CEO Jamie Dimon highlighted a more constructive geopolitical and macroeconomic backdrop as helping buoy the bank to record revenue and net income in the fourth quarter.”
Stock futures today point to a flat open, as earnings kick off, and can move the stock market, and stocks that miss or beat earnings expectations. We will monitor S&P 500 earnings calendar and earnings reports to watch this week.
” The stock market could have its day of reckoning over the next few days if earnings don’t live up to investors’ optimism.
The US stock market is approaching a do-or-die moment as US companies struggle to live up to investors’ lofty expectations.
The market’s valuations have become stretched, creating near impossible growth expectations for 2020.
This week as earnings season kicks off, investors can get a sense of whether or not the market can keep going.
Warnings about a US stock market crash have been plentiful over the past month as several key events threatened to take down the bull market we’ve all grown to love.
Stock market news. Stock trading, stock investing. These stocks made a 52-week low on Friday, January 10, 2020. Investing in stocks is risky, so further due diligence is required for these stocks. Here are these stocks making 52-week lows:
1. Sprint Corporation (S), close 4.8800-0.1200 (-2.40%)
2. Spirit AeroSystems Holdings, Inc. (SPR), close 69.70-3.09 (-4.25%)
3. Woori Financial Group Inc. (WF), close, 27.15-0.47 (-1.70%)
4. Qurate Retail, Inc. (QRTEA), close 8.50+0.54 (+6.78%)
5. Cinemark Holdings, Inc. (CNK), close 31.13+0.13 (+0.42%)
6. Six Flags Entertainment Corporation (SIX), close 35.96-7.80 (-17.82%)
7. Virtu Financial, Inc. (VIRT), close 15.22-0.62 (-3.91%)