3 Stories to Watch Before the Close: Adidas & Puma, Democratic Debate and the Market - TheStreet

What to Watch Ahead of the Closing Bell: Adidas, Puma, Democratic Debate and the Market

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Before the closing bell rings and you head home, let’s break down the top stories to watch.

Let’s give a general market update, a look at Adidas and Puma and the Democratic debates.

So, What Exactly Is Going On With the Market?

The major indices have remained steadily in the green--with the Nasdaq and S&P 500 hitting intraday highs.

The Dow, ahead of the close, is up around 150 points, or around 0.5%.

Looking for a reason? Well, the number of new coronavirus cases fell for a second straight day, making this the lowest daily increase since January 29.

Then There’s Adidas and Puma

The two companies have warned about the potential impact from the coronavirus on their businesses in China.

The athletic apparel makers said that the store closures, as well as the lack of tourists, have hurt their businesses.

Both companies make around a third of their sales in Asia.

In fact, China accounted for around 20% of Adidas sales in 2018.

Puma noted that half of its stores in China were temporarily closed.

However, the factories are reportedly up and running again.

But, Puma has warned that it may have to reconsider its guidance for 2020 if the stores remain closed for longer than four weeks.

And, finally, let’s talk about the Democratic Debate

The debate will take place in Las Vegas Nevada starting at 9 pm E.T.

Senator Elizabeth Warren, Senator Bernie Sanders, former Vice President Joe Biden, former South Bend Mayor Pete Buttigieg, and former New York City Mayor Mike Bloomberg, and Senator Amy Klobuchar will all take the stage.

According to the WSJ/NBC news poll, Sanders is at the head of the pack, with 27% support of Democratic voters nationally. Biden, Bloomberg and Warren each have around 14%.

Sanders is expected to win the Nevada caucus.

This will be the first time that Bloomberg takes the stage alongside the other candidates.

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