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With everything at or near highs, the market needs to either correct or dance around before advancing. Every day can't be a new high. I do wish it could.
Overnight futures reversed immediately after the Apple announcement and futures, then market averages, have stayed pretty much where they landed post-announcement.
(1) The numbers in China reported to be ill or dead with coronavirus are staggering. Much of China’s manufacturing is shut down. It’s definitely affecting the supply chain to companies like Apple and Ford. There are unconfirmed reports that China is hiding the real size of the issue. (Sometimes even unconfirmed / unsubstantiated reports trigger investor reaction.) Further, over the weekend hundreds were unwittingly allowed to disembark a cruise ship docked in Cambodia who are now believed to have been exposed to the virus while aboard. They’ve traveled to destinations world wide - heightening concerns about the spread.
(2) In addition, the Administration is considering halting exports of some significant amounts of technology to China (based on national security). The tech companies are opposed. If it goes through it will hurt their revenue stream.
I follow gold for entertainment. Far to volatile for me to hold much of a stake. But it’s having best day in a while - up $20 to over $1600. Even a small amount in one’s portfolio seems to have a big impact. A mining fund can rise or fall 5% or more in a single day. Can either “make-up-for” or compound the day’s losses. Gold’s spike today might be a reaction to the above mentioned issue.
Comments
"maybe heading recession soon"
Always a recession around the corner, eh?
(2) In addition, the Administration is considering halting exports of some significant amounts of technology to China (based on national security). The tech companies are opposed. If it goes through it will hurt their revenue stream.
I follow gold for entertainment. Far to volatile for me to hold much of a stake. But it’s having best day in a while - up $20 to over $1600. Even a small amount in one’s portfolio seems to have a big impact. A mining fund can rise or fall 5% or more in a single day. Can either “make-up-for” or compound the day’s losses. Gold’s spike today might be a reaction to the above mentioned issue.
Coronavirus figures - “ The update raised the number of deaths in mainland China to 1,868 and the total confirmed cases to 72,436.” https://www.marketwatch.com/story/china-reports-1886-new-coronavirus-cases-and-more-deaths-but-says-most-illnesses-are-mild-2020-02-18
Cruise ship story - https://www.nytimes.com/2020/02/16/world/asia/coronavirus-cruise-americans.html
Possible ban on tech exports - https://www.nytimes.com/2020/02/16/business/economy/us-china-technology.html
“One of these days Alice ..... One of these days!”