What to Watch Monday: Coronavirus, Oil and Treasuries

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Let's take a look at what investors need to know about the futures, oil, treasuries and the coronavirus.

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It’s going to be quite the trading day according to the futures. First, I want to talk about the futures.

Dow futures are pointing to an open that would have the Dow down over 1,300 points.

U.S. equity futures trading was suspended Monday following the plunge.

The circuit breakers were activated following a 5% drop in S&P 500 futures. This is known as ‘limit down.’

Oil futures were sinking on Sunday night into Monday morning. The declines, which saw WTI and Brent futures down over 20%, were the worst since 1991.

This followed Russia’s rejection of an OPEC proposal to cut 1.5 million barrels per day.

Saudi Arabia, in return, launched a price war and has vowed to boost production.

Now let’s take a look at the treasuries, which were also being hit overnight.

The 10 year treasury yields hit yet another all-time low overnight, and was at 0.45%.

And the 30 year bond yield, in our very own Martin Baccardax’s words, crumbled to 0.8% overnight.

Gold, however, hit a 7-year high, and was trading over $1,700.

And, finally, I want to give you an update on the coronavirus.

The global number of cases is up over 110,000. The virus has killed 3,800.

The U.S. has over 580 cases, with 22 deaths.

Italy has over 7,000 cases, with over 350 deaths.

And officials have restricted travel and cancelled events in an unprecedented peacetime lockdown of the northern region--which includes Milan--putting around 16 million people under lockdown.

South Korea has over 7,400 cases.

Iran has over 6,500 cases.

Both Germany and France have reported over 1,000 cases. 

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