Morning Briefing - Coronavirus concerns keeping a lid on equity futures The S&P 500 futures trade 14 points, or 0.5%, below fair value following yesterday's weak performance, as investors continue to seek safety in the Treasury market amid lingering coronavirus worries. The 2-yr yield is down one basis point to 0.14%, but the 10-yr yield has slipped another three basis points to 0.58% -- inching closer to its all-time closing low yield of 0.50% seen in March. The U.S. Dollar Index is little changed at 96.71. WTI crude is down 1.3% to $39.11/bbl amid a cautious global demand outlook from the IEA. In its July oil market report, the IEA was concerned that the coronavirus is still not under control. To help mitigate the spread, Hong Kong will reportedly close schools again on Monday, and Australia may be cutting inbound flights by 50%. Equity markets in both regions closed lower on Friday. One of the main stories this week has been the outperformance of the mega-cap technology stocks. Most are trading slightly lower in pre-market action, except for Netflix (NFLX 517.95, +10.19, +2.0%), which is benefiting from Goldman Sachs raising its price target to $670 from $540. Today's economic data will be limited to the Producer Price Index for June (Briefing.com consensus 0.4%) at 8:30 a.m. ET. In U.S. Corporate news: Netflix (NFLX 517.95, +10.19): +2.0% after Goldman Sachs raised its price target on NFLX to $670 from $540. United Airlines (UAL 29.00, -1.17): -3.9% after S&P downgraded the company's credit rating to B+ from BB- due to COVID-19 woes. Ford (F 5.77, -0.07): -1.2% amid a Reuters report that it may have to slow production due to slow response times from suppliers.



The S
Morning Briefing - Coronavirus concerns keeping a lid on equity futures
The S&P 500 futures trade 14 points, or 0.5%, below fair value following yesterday's weak performance, as investors continue to seek safety in the Treasury market amid lingering coronavirus worries. 
The 2-yr yield is down one basis point to 0.14%, but the 10-yr yield has slipped another three basis points to 0.58% -- inching closer to its all-time closing low yield of 0.50% seen in March. The U.S. Dollar Index is little changed at 96.71. WTI crude is down 1.3% to $39.11/bbl amid a cautious global demand outlook from the IEA.
In its July oil market report, the IEA was concerned that the coronavirus is still not under control. To help mitigate the spread, Hong Kong will reportedly close schools again on Monday, and Australia may be cutting inbound flights by 50%. Equity markets in both regions closed lower on Friday. 
One of the main stories this week has been the outperformance of the mega-cap technology stocks. Most are trading slightly lower in pre-market action, except for Netflix (NFLX 517.95, +10.19, +2.0%), which is benefiting from Goldman Sachs raising its price target to $670 from $540.
Today's economic data will be limited to the Producer Price Index for June (Briefing.com consensus 0.4%) at 8:30 a.m. ET.
In U.S. Corporate news:
  • Netflix (NFLX 517.95, +10.19): +2.0% after Goldman Sachs raised its price target on NFLX to $670 from $540. 
  • United Airlines (UAL 29.00, -1.17): -3.9% after S&P downgraded the company's credit rating to B+ from BB- due to COVID-19 woes. 
  • Ford (F 5.77, -0.07): -1.2% amid a Reuters report that it may have to slow production due to slow response times from suppliers. 
e 14 points, or t to 0.14%, but the 10-yr yield has slipped another three basis points to 0.58% -- inching closer to its all-time closing low yield of 0.50% seen in March. The U.S. Dollar Index is little changed at 96.71. WTI crude is down 1.3% to $39.11/bbl amid a cautious global demand outlook from the IEA.
In its July oil market report, the IEA was concerned that the coronavirus is still not under control. To help mitigate the spread, 0.5%, below fair value following yesterday's weak performance, as investors continue to seek safety in the Treasury market amid lingering coronavirus worries. 
The 2-yr yield is down one basis poinHong Kong will reportedly close schools again on Monday, and Australia may be cutting inbound flights by 50%. Equity markets in both regions closed lower on Friday. 
One of the main stories this week has been the outperformance of the mega-cap technology stocks. Most are trading slightly lower in pre-market action, except for Netflix (NFLX 517.95, +10.19, +2.0%), which is benefiting from Goldman Sachs raising its price target to $670 from $540.
Today's economic data will be limited to the Producer Price Index for June (Briefing.com consensus 0.4%) at 8:30 a.m. ET.
In U.S. Corporate news:
  • Netflix (NFLX 517.95, +10.19): +2.0% after Goldman Sachs raised its price target on NFLX to $670 from $540. 
  • United Airlines (UAL 29.00, -1.17): -3.9% after S&P downgraded the company's credit rating to B+ from BB- due to COVID-19 woes. 
  • Ford (F 5.77, -0.07): -1.2% amid a Reuters report that it may have to slow production due to slow response times from suppliers. 
P 500 futures trade 14 points, or 0.5%, below fair value following yesterday's weak perfor
or 0.5%, below fair value following yesterday's weak performance, as investors continue to seek safe2
The S&P 500 futures trade 14 points, or 0.5%, below fair value following yesterday's weak performance, as investors continue to seek safety in the Treasury market amid lingering coronavirus worries. 
The 2-yr yield is down one basis point to 0.14%, but the 10-yr yield has slipped another three basis points to 0.58% -- inching closer to its all-time closing low yield of 0.50% seen in March. The U.S. Dollar Index is little changed at 96.71. WTI crude is down 1.3% to $39.11/bbl amid a cautious global demand outlook from the IEA.
In its July oil market report, the IEA was concerned that the coronavirus is still not under control. To help mitigate the spread, Hong Kong will reportedly close schools again on Monday, and Australia may be cutting inbound flights by 50%. Equity markets in both regions closed lower on Friday. 
One of the main stories this week has been the outperformance of the mega-cap technology stocks. Most are trading slightly lower in pre-market action, except for Netflix (NFLX 517.95, +10.19, +2.0%), which is benefiting from Goldman Sachs raising its price target to $670 from $540.
Today's economic data will be limited to the Producer Price Index for June (Briefing.com consensus 0.4%) at 8:30 a.m. ET.
In U.S. Corporate news:
  • Netflix (NFLX 517.95, +10.19): +2.0% after Goldman Sachs raised its price target on NFLX to $670 from $540. 
  • United Airlines (UAL 29.00, -1.17): -3.9% after S&P downgraded the company's credit rating to B+ from BB- due to COVID-19 woes. 
  • Ford (F 5.77, -0.07): -1.2% amid a Reuters report that it may have to slow production due to slow response times from suppliers. 
The S&P 500 futures trade 14 points, or 0.5%, below fair value following yesterday's weak performance, as investors continue to seek safety in the Treasury market amid lingering coronavirus worries.
The 2-yr yield is down one basis point to 0.14%, but the 10-yr yield has slipped another three basis points to 0.58% -- inching closer to its all-time closing low yield of 0.50% seen in March. The U.S. Dollar Index is little changed at 96.71. WTI crude is down 1.3% to $39.11/bbl amid a cautious global demand outlook from the IEA.
In its July oil market report, the IEA was concerned that the coronavirus is still not under control. To help mitigate the spread, Hong Kong will reportedly close schools again on Monday, and Australia may be cutting inbound flights by 50%. Equity markets in both regions closed lower on Friday.
One of the main stories this week has been the outperformance of the mega-cap technology stocks. Most are trading slightly lower in pre-market action, except for Netflix (NFLX 517.95, +10.19, +2.0%), which is benefiting from Goldman Sachs raising its price target to $670 from $540.
Today's economic data will be limited to the Producer Price Index for June (Briefing.com consensus 0.4%) at 8:30 a.m. ET.
In U.S. Corporate news:
  • Netflix (NFLX 517.95, +10.19): +2.0% after Goldman Sachs raised its price target on NFLX to $670 from $540. 
  • United Airlines (UAL 29.00, -1.17): -3.9% after S&P downgraded the company's credit rating to B+ from BB- due to COVID-19 woes. 
  • Ford (F 5.77, -0.07): -1.2% amid a Reuters report that it may have to slow production due to slow response times from suppliers. 
y market amid lingering coronavirus worries.
The 2-yr yield is down one basis point to 0.14%, but the 10-yr yield has slipped another three basis points to 0.58% -- inching closer to its all-time closing low yield of 0.50% seen in March. The U.S. Dollar Index is little changed at 96.71. WTI crude is down 1.3% to $39.11/bbl amid a cautious global demand outlook from the IEA.
In its July oil market report, the IEA was concerned that the coronavirus is still not under control. To help mitigate the spread, Hong Kong will reportedly close schools again on Monday, and Australia may be cutting inbound flights by 50%. Equity markets in both regions closed lower on Friday.
One of the main stories this week has been the outperformance of the mega-cap technology stocks. Most are trading slightly lower in pre-market action, except for Netflix (NFLX 517.95, +10.19, +2.0%), which is benefiting from Goldman Sachs raising its price target to $670 from $540.
Today's economic data will be limited to the Producer Price Index for June (Briefing.com consensus 0.4%) at 8:30 a.m. ET.
In U.S. Corporate news:
  • Netflix (NFLX 517.95, +10.19): +2.0% after Goldman Sachs raised its price target on NFLX to $670 from $540. 
  • United Airlines (UAL 29.00, -1.17): -3.9% after S&P downgraded the company's credit rating to B+ from BB- due to COVID-19 woes. 
  • Ford (F 5.77, -0.07): -1.2% amid a Reuters report that it may have to slow production due to slow response times from suppliers. 
mance, as investors continue to seek safety in the Treasury market amid lingering coronavirus worries.
The 2-yr yield is down one basis point to 0.14%, but the 10-yr yield has slipped another three basis points to 0.58% -- inching closer to its all-time closing low yield of 0.50% seen in March. The U.S. Dollar Index is little changed at 96.71. WTI crude is down 1.3% to $39.11/bbl amid a cautious global demand outlook from the IEA.
In its July oil market report, the IEA was concerned that the coronavirus is still not under control. To help mitigate the spread, Hong Kong will reportedly close schools again on Monday, and Australia may be cutting inbound flights by 50%. Equity markets in both regions closed lower on Friday.
One of the main stories this week has been the outperformance of the mega-cap technology stocks. Most are trading slightly lower in pre-market action, except for Netflix (NFLX 517.95, +10.19, +2.0%), which is benefiting from Goldman Sachs raising its price target to $670 from $540.
Today's economic data will be limited to the Producer Price Index for June (Briefing.com consensus 0.4%) at 8:30 a.m. ET.
In U.S. Corporate news:
  • Netflix (NFLX 517.95, +10.19): +2.0% after Goldman Sachs raised its price target on NFLX to $670 from $540. 
  • United Airlines (UAL 29.00, -1.17): -3.9% after S&P downgraded the company's credit rating to B+ from BB- due to COVID-19 woes. 
  • Ford (F 5.77, -0.07): -1.2% amid a Reuters report that it may have to slow production due to slow response times from suppliers. 

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