5 things to know before the stock market opens February 24, 2020


1. Dow to sink in excess of 800 points at Monday open

Trader Michael Urkonis functions on the flooring of the New York Inventory Exchange, January 28, 2020.

Bryan R Smith | Reuters

U.S. stock futures were pointing to an above 800-issue or 2.8% drop at Wall Street’s open up on Monday for the Dow Jones Industrial Normal. European stocks were faring considerably worse, with Italian equities down 4% as Italy grapples with the major coronavirus outbreak outdoors of Asia, with more than 150 noted situations and 4 fatalities. On Sunday at the G-20 summit in Riyadh, Saudi Arabia, Treasury Secretary Steven Mnuchin told CNBC that U.S. officials will have a greater plan of how the coronavirus unfold will impact the overall economy in “three or four months.” Outbreak problems have been now intensifying previous 7 days, sending the Dow down 227 factors or .8% on Friday, breaking a two-week profitable streak.

2. Treasury yields slide as gold soars

3. Buffett sees inventory plunge as a acquiring possibility

Warren Buffett

Gerard Miller | CNBC

Billionaire investor Warren Buffett, who joins CNBC’s “Squawk Box” for three hours ending at 9 a.m. ET, stated Monday that he views the inventory market’s huge decrease as a getting option. “We’re a web buyer of shares above time. When shares are down we’re heading to be purchasing on equilibrium. Would fairly purchase at a lower value than a higher cost,” he explained on “Throughout the world Exchange.” On Saturday, Buffett unveiled the most widely expected shareholder letter of the year and talked about how Berkshire Hathaway’s enterprise fared through 2019.

4. South Korea coronavirus circumstances and fatalities climb

In addition to an explosion of coronavirus cases in Italy, South Korea scenarios climbed to more than 830, with seven fatalities. Wellness authorities stated that world-wide cases rose to approximately 79,500 with about 2,600 deaths — however with the huge vast majority of cases and deaths in China the place the new virus originated. Chinese leaders made a decision Monday to postpone the 3rd session of the 13th National People’s Congress, in accordance to condition media. The yearly event in Beijing, at which China releases economic targets for the 12 months, had been established to begin subsequent week. No foreseeable future day was specified.

5. Sanders to earn Nevada caucuses, followed by Biden

Democratic presidential hopeful Vermont Senator Bernie Sanders gestures as he speaks during the ninth Democratic major discussion of the 2020 presidential marketing campaign season co-hosted by NBC Information, MSNBC, Noticias Telemundo and The Nevada Impartial at the Paris Theater in Las Vegas, Nevada, on February 19, 2020.

Mark Ralston | AFP | Getty Images

Sen. Bernie Sanders will get Saturday’s Nevada Democratic caucuses, NBC News projected, strengthening his early pole situation in the race for the presidential nomination. Former Vice President Joe Biden, whose campaign necessary a raise right after inadequate outcomes in Iowa and New Hampshire, will complete second in Nevada. Ex-South Bend, Indiana Mayor Pete Buttigieg arrived in third, in accordance to NBC News. Sen. Elizabeth Warren trailed in fourth. South Carolina holds its most important this coming Saturday forward of Super Tuesday on March 3, when a third of the delegates are up for grabs in 16 nominating primaries and caucuses.



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