The Dow Jones set a single day points record on Monday rising 1,290 points by the time the closing bell rang. This broke a 7-day losing streak and came after a week where the markets had their worst performance since the 2008 financial crisis. However, these gains were short lived as Dow Jones, Nasdaq, and S&P 500 futures all edged lower Tuesday morning after a G-7 meeting on the coronavirus. The G-7 call didn’t seem to offer any solutions or stimulations to the outbreak and the market is reacting as such. Dow futures fell .9% after the call, S&P 500 futures and Nasdaq futures followed suit falling 1% and .85%, respectively. These falls were before the opening bells, so we may still have a good session today.
The U.S. reported four more deaths via coronavirus bringing out total to 6. Interesting enough, all 6 deaths have been in King County, Washington. This area includes Seattle. King County isn’t the only part of the country being affected by this as the U.S. has now confirmed 105 Covid-19 cases, but as testing heats a fever pitch, we expect that number to rise.