1. Dow set to open over 400 points lower on coronavirus concerns
Traders work on the floor of the New York Stock Exchange (NYSE) on January 21, 2020 in New York City.
Spencer Platt | Getty Images
The Dow Jones Industrial Average is set to sink more than 400 points at Wall Street's open on Monday. U.S. stock futures were under severe pressure, following stock markets around the world lower, as China's coronavirus outbreak widens. On Friday, stocks had their worst day of 2020, which had gotten off to a roaring start after last year's near 29% gain for the S&P 500, the best annual performance for the index since 2013. Heading into Monday's trading, the Dow was on a four-session losing streak. Perceived safer investments such as bonds and gold were higher. Bond prices move inversely to yields, which were lower.
2. Cases of coronavirus in China soar with death toll at 81
A pedestrian walks in front of an electric quotation board displaying share prices of world bourses, including the Tokyo Stock Exchange (top C), along a street in Tokyo on January 27, 2020.
KAZUHIRO NOGI | AFP via Getty Images
Chinese health officials are reporting more than 2,800 confirmed cases of the fast-spreading coronavirus in China and 81 deaths. It was first identified in the city of Wuhan in Hubei province last month. Johnson & Johnson's chief scientific officer, Dr. Paul Stoffels, told CNBC on Monday that he believes the drugmaker can create a vaccine in the coming months but it may not get to market for a year. Several companies, including Walt Disney with its Shanghai Disney, are suspending operations until further notice during the normally festive weeklong Lunar New Year holiday to prevent the outbreak from spreading. Starbucks and McDonald's closed stores in Hubei province.
3. Could the coronavirus 'curveball' halt the stock market's rise?
Last week, billionaire investor Paul Tudor Jones warned that the "curveball" to derail the bull market in stocks could be the outbreak of the coronavirus. The hedge fund manager invoked "early 1999" as a touchstone for today's market environment, noting in particular the copious financial liquidity and low inflation energizing risk assets. However, as CNBC's Michael Santoli points out the Nasdaq 100, the heart of the market's leadership both now and then, currently fetches 28 times trailing earnings, compared with about 40 times two decades ago.
4. Bolton is a wild card in Trump's impeachment trial
Democrats are stepping up their calls for former national security advisor John Bolton to testify at President Donald Trump's impeachment trial. This comes after an explosive report alleged that in Bolton's unpublished book he said Trump personally tied aid for Ukraine to an investigation of the Bidens. Trump in a tweet just after midnight denied saying that.
In a rare Saturday session in the Senate, Trump's legal team started to lay out its defense of the president at his impeachment trial. The president's defense continues Monday.
5. Iowa caucuses next week then the New Hampshire primary
2020 Democratic presidential candidates, from left, Tom Steyer, co-founder of NextGen Climate Action Committee, Senator Elizabeth Warren, a Democrat from Massachusetts, Former U.S. Vice President Joe Biden, Senator Bernie Sanders, an independent from Vermont, Pete Buttigieg, former mayor of South Bend, and Senator Amy Klobuchar, a Democrat from Minnesota, stand on stage ahead of the Democratic presidential debate in Des Moines, Iowa, U.S., on Tuesday, Jan. 14, 2020.
Daniel Acker | Bloomberg | Getty Images
— The Associated Press contributed to this report.
https://news.google.com/__i/rss/rd/articles/CBMiY2h0dHBzOi8vd3d3LmNuYmMuY29tLzIwMjAvMDEvMjcvNS10aGluZ3MtdG8ta25vdy1iZWZvcmUtdGhlLXN0b2NrLW1hcmtldC1vcGVucy1qYW51YXJ5LTI3LTIwMjAuaHRtbNIBZ2h0dHBzOi8vd3d3LmNuYmMuY29tL2FtcC8yMDIwLzAxLzI3LzUtdGhpbmdzLXRvLWtub3ctYmVmb3JlLXRoZS1zdG9jay1tYXJrZXQtb3BlbnMtamFudWFyeS0yNy0yMDIwLmh0bWw?oc=5
2020-01-27 13:23:00Z
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