After yesterday’s historic gains, which saw the Dow up over 1,200 points into the close, or a 5% gain, let’s go over some of the top stories driving the markets.
First up: All Eyes Are on G-7
The G-7 leaders held a conference call at 7am this morning.
The call was included U.S. Treasury Secretary Steven Mnuchin and other
finance ministers and central bankers pledged Tuesday to "closely monitor" financial market developments amid the current coronavirus crisis, but stopped short of offering specific coordinated policy action.
In a statement released following an emergency conference call among the G-7 members, co-chair by U.S. Treasury Secretary Steve Mnuchin and Federal Reserve Chairman Jerome Powell, the leaders said they "stand ready" to cooperate further on timely and effective measures," including fiscal tools, but made no mention of interest rate reductions.
And Super Tuesday
There’s Alabama, Arkansas, California, Colorado, Maine, Massachusetts, Minnesota and North Carolina, Oklahoma, Tennessee, Texas, Utah, Vermont and Virginia.
Vermont senator Bernie Sanders is the front-runner currently, but former Vice President Joe Biden was endorsed by Amy Klobuchar and Pete Buttigieg.
And this will be the first major test for Democratic hopeful Michael Bloomberg.
And Then There’s the Coronavirus
There are now over 90,000 cases worldwide, with over 3,100 deaths.
The U.S. announced four deaths from the virus yesterday, bringing the total to 6.
South Korea now has more than 5,000 confirmed cases and Italy has over 2,000 cases.