Let’s go through some of the top stories. Dow futures are plunging and the 10-year Treasury bond yields hit all-time lows in premarket trading.
First up, there’s Costco.
The company posted second-quarter earnings that topped analysts estimates.
And, due to the coronavirus, the company said that February benefitted from an increase in customers.
Same-store sales in Costco's fiscal second quarter rose 8.9%, reflecting increases of 9.1% in the U.S., 8.9% in Canada and 7.9% internationally. Analysts were expecting total growth of 6.8%.
And then there’s Jamie Dimon.
The CEO of JPMorgan had emergency heart surgery late last night.
According to a statement to employees, Dimon suffered an “acute aortic dissection.” However, Dimon was alert and “recovering well.”
Co-Presidents Daniel Pinot and Gordon Smith will lead the bank during Dimon’s recovery.
Dimon is 63 years old, and is also the longest-serving CEO of a large U.S. bank. He’s been at the held of JPMorgan since 2004.
And, finally, let’s give you a quick update on the coronavirus.
There are now nearly 100,000 cases worldwide. The death toll has passed 3,200.
In the U.S., there are over 220 cases, with 14 deaths.
And the president of the Tokyo 2020 olympics, Yoshiro Mori, has reportedly said that it would be impossible to cancel the games.
Japan currently has over 300 cases, with six deaths.
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