Archives of “February 25, 2020” day

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UBS note a big fall in iPhone demand in China in January – February “likely to be far worse”

  
  Analysis
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Apparently still some folks about not taking this outbreak seriously.
Anyways, UBS via Bloomberg:
  • Apple iPhone sales January… Demand for the product fell 28% compared with the previous month, a bigger decline than usual for that time of year
  • “February numbers are likely to be far worse due to both supply and demand issues related to the virus outbreak”
More:
  • company also closed all of its 42 physical stores in mainland China
  • beginning to reopen them now.
  • The situation is so fluid that Apple hasn’t given a new revenue forecast

USD/JPY to 120? Here are a 2 reasons.

  
Analysis, Forex

A couple of analysts on the yen, despite the ‘flight to safety’ see a case for it to weaken.

  • S&P ratings say if economic growth in Japan slows further than expected (vs. the US) yen to weaken as a ‘shock absorber’ with BOJ monetary policy setting rates already so low.
  • AMP (in Australia) says if the virus outbreak in Japan worsens and the US remains relatively free of the outbreak USD/JPY could test 120

US to begin testing coronavirus vaccine in late April, results in July or August

  
  Analysis
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For those looking for a shot of hopium, the WSJ have you covered.

  • Drugmaker Moderna has shipped the first batch of its rapidly developed coronavirus vaccine to U.S. government researchers
  • first human tests … by the end of April to start a clinical trial
  • Initial results could become available in July or August
Link here. (Journal may be gated)
“Late” April is what, two months away? Ugh.
Until then…
For those looking for a shot of hopium, the WSJ have you covered.

Dow tumbles more than 1000 points. Worst day since Feb 8, 2018

  
Analysis, US Market
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S&P worse day since December 2018

The Dow is closing down over 1000 points on the day. It is the workstations February 8, 2018. The S&P index at its worst day since December 2018.  The Dow, S&P and Nasdaq each fell over 3.3% on the day with the NASDAQ hit the hardest at -3.71%.
The Dow and the S&P are now negative on the year:
  • Dow -2.02%
  • S&P index, -0.15%
  • The Nasdaq index is still up on the year at +2.77%
The final numbers are showing:
  • S&P index -111.82 points or -3.35% at 3225.93.  The low price for the day reach 3214.65. The high extended to 3259.81.
  • Nasdaq index fell minus 355.309 points or -3.71% at 9221.28. The low for the day reached 9166.00. The high reached 9322.879.
  • Dow fell -1031.33 points or -3.56% at 27961. The low for the day reached 27912.44. The high for the day was up at 28402.93

Big losers on the day include:

  • United health, -7.87%
  • AMD, -7.83%
  • Tesla, -7.49%
  • Schlumberger, -7.4%
  • Nvidia, -7.13%
  • Delta airlines -6.31%
  • Twitter, -6.29%
  • Wynn Resort, -6.03%
  • Intuitive Surgical -5.38%
  • Morgan Stanley, -5.21%
  • Charles Schwab, -5.19%
  • FedEx -5.16%
  • Citigroup, -5.10%
  • American Express, -4.97%
  • Cisco, -4.95%
  • Visa, -4.82%
Are there any winners today?
  • Gilead, +4.66%
  • US steel, +1.73%
  • Chewy, +1.3%
  • First Solar, +1.25%
  • Verizon, -0.3%. Verizon was the strongest of the Dow 30 stocks
  • General Mills only fell -0.37%

 

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