Archives of “February 24, 2020” day

rss

Japan on holiday. New Zealand credit card spending only economic news

  
  Analysis

Japan celebrates the Emperor’s birthday

Japan will be off today in celebration of the Emperor’s birthday.
The only economic news on the docket (in addition to the retail sales already released) in the Asian Pacific session is New Zealand credit card spending for January.  There are no estimates, but for December:
  • credit card spending for December came in at -0.9%
  • credit card spending YoY rose by 3.4% in December.
The data will be released at 9 PM ET/0200 GMT.

S&P futures contract falls 1% in early electronic trading

  
Analysis, US Market

Asian virus fears grow

The US stocks off to a weak start as the

  • S&P 500 contract falls 1% on Asian virus fears.
  • NASDAQ futures are down 115 points (around -1.2%)
  • Dow futures are down -260 points (around -0.93%)
In other markets,
  • gold has jumped to $1660 an ounce more up 1% in early trading
  • WTI crude oil futures are trading down $1 or -1.87% at $52.38
Meanwhile South Korea vice finance minister is on the wires saying:
  • concern financial market instabilities are increasing
  • policy focus will be on a stabilizing FX, financial markets
  • will act sternly, swiftly to stabilize financial markets if needed
  • will stem any hero – like speculative moves in FX markets
  • will soon announce measures to boost exports, investments and domestic demand
  • coronavirus threatens to limit South Korean economic recovery
  • negative impact from virus unavoidable
Go to top