Archives of “January 31, 2020” day

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China official PMIs for January: Manufacturing 50.0 (expected 50.0) Services 54.1 (53.0)

  
Analysis, Economy
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The response to these will be – “Just wait until the next one, it’ll be much worse”.

Difficult to fault that response really. This will impact ahead, for example:
  • Coronavirus – A province in China has requested firms stay on holiday until February 10
Since posting that another province has followed suite, officials in Heilongjian want firms to stay on holiday until February 10 also.
Anyway:
  • Manufacturing comes in at 50 vs. expected 50.0, prior 50.2
  • Non-manufacturing comes in at 54.1 vs. expected 53.0, prior 53.5
  • Composite comes in at 53.0 vs. prior 53.4

Japan Unemployment rate for December: 2.2% (expected 2.3%)

  
  Analysis
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The Tokyo area CPI is out at the same time, on a separate post

Japan Jobless rate for December 2.2%

  • expected 2.3%, prior 2.2%

Job to applicant ratio for December 1.57

  • expected 1.57, prior 1.57
Japan economy … 99 problems but unemployment ain’t one.

Death toll in China’s coronavirus outbreak has risen to at least 212

  
  Analysis
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And the number of cases of coronavirus confirmed across thje glove is now over 8,100 9,000

For Hubei province (Wuhan is the capital city of Hubei and the epicentre of the outbreak)
  • 42 deaths confirmed
  • 1,200 new cases confirmed over the past 24 hours
More figures will come as the morning progresses in China, but as a heads up it appears more than 70% of new cases are outside of Hubei province.

AMZN is AMZG

  
Analysis, US Market
  Tags

Earnings come in 60% over expectations

AMZN is AMZG!
The earnings for Amazon were AMAZING.
  • EPS $6.47 versus $4.11 estimate
  • sales came in at $87.4 billion were assessment of $86.17 billion
  • Amazon sees 1st quarter net sales of $69.0 billion to $73.0 billion versus estimate of $71.56 billion
  • Amazon’s fourth-quarter AWS net sales $9.95  billion estimate $9.89 billion

The price of Amazon is currently trading up $195 or 10.44% to $2068 in after hours trading.

Amazon is amazing (at least today’s earnings were)

World Health Organization: Declares coronvirus a public health emergency

  
  Analysis
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WHO declares coronvirus a public health emergency

World Health Organization
  • Declares coronvirus a public health emergency
  • This is not a vote of no-confidence in China
  • does not recommend limiting trade and movement to to China virus outbreak
  • our greatest concern is the potential for the virus to spread to countries with weaker health systems
  • panel almost unanimously concluded that coronavirus is a global emergency
  • China has done tremendous things to limit the spread of the virus to other countries
  • never seen this type of mobilization in my life that that was being executed in China
  • Believes that the measures that China is taking will ‘reverse the tide’
  • On China WHO says ‘I have seen the capacity and I believe they will control this outbreak assumes possible’
Although the declaration of the coronavirus as a public health emergency, the officials from the World Health Organization are gushing about the China response to the virus, it’s containment and seem not to be concerned about the spread in China or in countries that are acting responsibly. Once again the biggest concern is countries with weaker health systems.

The price of of equities spike higher before the announcement then fell back down. We are currently trading near mid range of that volatile range.

Gold is moving off high levels as well currently trades at $1580.37. It is still up $3.70 on the day
In the forex market, the USDJPY has moved above back above its 100 day moving average as the up and downs continue in the pair off of news headlines.

US major indices close at session highs. Reverse near 1% declines

  
Analysis, US Market
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Up and down session but by the end, the bulls prevail

The major US indices are ending the day near session highs and higher on the day. It took nearly all day to get back in the black. At the lows, the S&P index was down -0.93% the low, the NASDAQ index was down -0.97%, and the Dow industrial average was down -0.85%.
At the close, the final numbers show:
  • S&P index it is closing up 10.17 points or 0.31% at 3283.57
  • NASDAQ index is closing up 23.77 points or 0.26% at 9298.93
  • Dow industrial average it is closing up 123.8 points or 0.43% at 28858.25

The European markets did not fare as well. The German DAX fell by -1.41%. The France’s CAC fell by 1.4%.

Below are the percentage ranges for the major European and US indices along with the closing percentage change levels.
Up and down session but by the end, the bulls prevail_
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