Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange.
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8:19 am: JPMorgan strategist calls for a market setback, says ‘short-term systematic sell signals’ triggered
The U.S. stock market could be subjected to near-term headwinds as a slew of “systematic sell signals” are tripped up, JPMorgan strategist Jason Hunter said in a note to clients. Hunter noted that as the S&P 500 hit record highs, it did so with “much less momentum and weaker internals.” Hunter also pointed to how narrow the leadership in the market has been, noting: “With only a select group of stocks powering the rally … multiple momentum and internal divergences provide technical signals that increase the probability for a short-term setback.” —Imbert
8:17 am: Here are Friday’s biggest analyst calls of the day
7:58 am: Stocks set to fall as coronavirus cases spike
U.S. stock futures are trading slightly lower on continued fears of a global economic slowdown stemming from the coronavirus. Dow Jones Industrial Average futures are down about 65 points, indicating a loss of 95 points at the open. S&P 500 and Nasdaq 100 futures also pointed to lower open. The number of confirmed cases in China jumped by more than 800 overnight. Confirmed cases in South Korea also increased. —Imbert
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