What to Watch Friday: Coronavirus, Markets and Futures

Author:
Publish date:
Video Duration:
2:17

It's Friday the 13th, y'all.

This morning, we're taking a look at the futures, which triggered the Limit Up rule after soaring 5%--meaning that futures trading was halted until 9:30 am when the market opens. 

So, what should we expect to see today? 

Watch the full video above for more.

Video Transcript:

Good morning, it’s Friday March 13.

This morning, we’re focusing on the futures, Black Thursday and the coronavirus.

Yesterday saw the markets tumble in the worst day since the crash of 1987.

This morning, however, futures are attempting a rebound.

The Dow is up over 5%, or over 1,100 points, the S&P is up 5% and the Nasdaq futures are up 5%.

This means that the futures have hit limit-up and futures trading has been halted until the opening bell.

Remember when you weren’t sure what Limit Up-Limit Down was? Well now, you should be pretty familiar with it.

Even oil is attempting a comeback, up 5% this morning.

But let’s talk about yesterday.

Black Thursday saw the Dow close down 10%m while the Nasdaq and S&P 500 were down around 9.5%.

In total, around $4.7 trillion dollars in market value were erased yesterday

And, finally, let’s give you an update on the coronavirus.

There are now over 128,000 cases worldwide, with 4,700 deaths.

The U.S. now has over 1,600 cases, with 41 deaths.

Disney announced that it’s closing the Walt Disney World Resort in Florida, the Disneyland Paris resort starting March 16 through the end of the month.

And then Thursday, the company announced the temporary closure of DIsneyland resort and the Disney California Adventure PArk in ANaheim California due to the pandemic.

New York City announced a state of emergency last night, and shut down all Broadway shows until April 13. Gatherings of 500 people or more have been banned.

Major League Baseball is delaying the start of its season, the NHL and the Major League Soccer are following in the NBA’s steps and suspending its season and the March Madness tournament has been cancelled.

I know that, for some, that this outbreak--and the market reactions to it--are causing a lot of anxiety, and I wanted to say that I understand. Breathe. Check trusted sources for reliable information, and allow yourself space from the news if you get overwhelmed.

Thank you guys for tuning in to my coverage this week, and I hope you stick around to watch Jim Cramer and I break down what you need to know as we enter yet another wild trading day. We’ll be live from New Jersey at 10 am. You can, as always, watch us on TheStreet.com, or find us on Twitter or Facebook @TheStreet.

I’ll see y’all next week.

Catch up on the Latest Videos on TheStreet!

Related Videos