New Coronavirus Cases In Iran Strikes Fear In Markets Sinking Stocks And Spiking Metals ETFs

Stocks fell again on Friday after continuing fears over the coronavirus, which has spiked volatility.

While the virus has largely been concentrated in China, the World health officials said Friday the COVID-19 coronavirus outbreak has extended to Iran, where health officials confirmed 18 new cases and 4 deaths in just two days, which is “very worrisome.”

Earlier in the day, Iran confirmed 13 new coronavirus cases, raising its national tally to 18. Seven people with the flu-like virus were diagnosed in Qom, four people in Tehran and two in Gilan.

The thus far modest contagion in Iran has been tied to a case in Canada and another infection of a 45-year-old woman in Lebanon after those patients traveled to the Middle East nation.

“The cases that we see in the rest of the world, although the numbers are small, but not linked to Wuhan or China, it’s very worrisome,” Tedros Adhanom Ghebreyesus, director-general of the World Health Organization, said Friday at a news conference at the agency’s headquarters in Geneva. “These dots are actually very concerning.”

Health officials are receiving information about the patients in Iran, but “we have to engage them even more,” Tedros said.

World health officials still have the opportunity to contain the virus, he said, but that likelihood is decreasing every day.

“The window of opportunity is still there, but our window of opportunity is narrowing,” he said. “We need to act quickly before it closes completely.” He also cautioned: “This outbreak could still go in any direction.”

Outside of China, there are 1,152 cases across 26 countries and eight deaths, Tedros said.

The Dow Jones Industrial Average traded as much as 316 points lower as of 11 A.M. EST, or 1.1%, to break below 29,000 for the first time since Feb. 10. The S&P 500 as fell 1.1% as

Read More Here...

New Coronavirus Cases In Iran Strikes Fear In Markets Sinking Stocks And Spiking Metals ETFs

Stocks fell again on Friday after continuing fears over the coronavirus, which has spiked volatility.

While the virus has largely been concentrated in China, the World health officials said Friday the COVID-19 coronavirus outbreak has extended to Iran, where health officials confirmed 18 new cases and 4 deaths in just two days, which is “very worrisome.”

Earlier in the day, Iran confirmed 13 new coronavirus cases, raising its national tally to 18. Seven people with the flu-like virus were diagnosed in Qom, four people in Tehran and two in Gilan.

The thus far modest contagion in Iran has been tied to a case in Canada and another infection of a 45-year-old woman in Lebanon after those patients traveled to the Middle East nation.

“The cases that we see in the rest of the world, although the numbers are small, but not linked to Wuhan or China, it’s very worrisome,” Tedros Adhanom Ghebreyesus, director-general of the World Health Organization, said Friday at a news conference at the agency’s headquarters in Geneva. “These dots are actually very concerning.”

Health officials are receiving information about the patients in Iran, but “we have to engage them even more,” Tedros said.

World health officials still have the opportunity to contain the virus, he said, but that likelihood is decreasing every day.

“The window of opportunity is still there, but our window of opportunity is narrowing,” he said. “We need to act quickly before it closes completely.” He also cautioned: “This outbreak could still go in any direction.”

Outside of China, there are 1,152 cases across 26 countries and eight deaths, Tedros said.

The Dow Jones Industrial Average traded as much as 316 points lower as of 11 A.M. EST, or 1.1%, to break below 29,000 for the first time since Feb. 10. The S&P 500 as fell 1.1% as

Read More Here...

7 Small Cap Stocks That Pack a Wallop

You’ve probably seeing a bunch of stories lately about how the stock market rally has become too narrow. What’s that mean? Simply put, a few mega-cap tech stocks are responsible for most of the market’s gains lately. If you own the huge tech names, it’s been great recently. But much of the market, and especially small stocks, has been left behind.

Some investors have decided to stop fighting the wave. No price is too high for something like Apple (NASDAQ:AAPL), apparently, as long as the momentum keeps going. Even an earnings warning could hardly keep Apple down.

At some point, though, the situation will flip. As a result, some investors are booking gains on their highly successful tech positions, and are rotating into other stocks that haven’t had huge rallies yet.

Historically, small capitalization stocks have outperformed the broad market over the years. And after a disappointing 2019, they may be ready to punch above their weight in 2020. Consider that the new coronavirus from China is having a disproportionate impact on Chinese companies, and American multinationals with a large presence in Asia. Meanwhile, smaller American firms are much less sensitive to the problems.

As such, this could be a great time to move some money out of overpriced high-fliers and pick up some small stocks while they’re still cheap.

Global Water Resources (GWRS)

Source: Shutterstock

If you’re thinking of exciting small-cap stocks, a utility probably wouldn’t be your first choice. But don’t be so quick to count out Global Water Resources (NASDAQ:GWRS). The $300 million market capitalization Arizona water utility is a fascinating company.

Right now, it’s fairly modest, as it serves only about 50,000 water taps. These are primarily in the Phoenix suburb of Maricopa. However, it, like Phoenix, is booming. Its customer base has nearly

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Dow sinks as coronavirus fallout continues

By The Washington Post · Taylor Telford · BUSINESS, US-GLOBAL-MARKETS

U.S. stock markets ended the week down, as signs of the coronavirus’ chilling effect on the global economy continued to surface in earnings and manufacturing data.

The tech-heavy Nasdaq closed down 1.79 percent on Friday, with tech stocks like Apple Inc., Amazon and Alphabet, the parent company of Google, hit particularly hard. Dow Jones industrial average closed down 0.78 percent in the red and at one point was down more than 300 points, but regained some of its losses. The Standard & Poor’s 500 index slid 1.2 percent.

Friday’s fall slated the major averages for their first weekly losses since the start of the month.

Investor fears were reflected in gold’s extended rally, which powered the safe-haven nearly 1.7 percent to a seven-year-high of $1,648. Meanwhile, the yield on the 30-year Treasury fell to an all-time low, suggesting investors’ confidence in the economy has been shaken. Oil prices also fell nearly 1 percent off concerns that the outbreak could dampen crude demand.

“While the number of new cases of coronavirus continues to slow in China, the spread outside the country is escalating and it seems the market is waking up to the impact on both individual companies and the wider economy,” Russ Mould, investment director at AJ Bell, wrote in commentary Friday. “Profit warnings linked to the health crisis, as companies are either hit by slowing consumer demand in China or impact on their supply chain, are starting to trickle out with the impact on iPhone sales revealed by Apple earlier this week the most high profile of these.”

The virus has killed more than 2,000 people worldwide and sickened more than 75,000, and the fallout has rippled around the globe through supply chain disruptions, cratering tourism and travel, and widespread store closures that

Read More Here...

Dow sinks as coronavirus fallout continues

By The Washington Post · Taylor Telford · BUSINESS, US-GLOBAL-MARKETS

U.S. stock markets ended the week down, as signs of the coronavirus’ chilling effect on the global economy continued to surface in earnings and manufacturing data.

The tech-heavy Nasdaq closed down 1.79 percent on Friday, with tech stocks like Apple Inc., Amazon and Alphabet, the parent company of Google, hit particularly hard. Dow Jones industrial average closed down 0.78 percent in the red and at one point was down more than 300 points, but regained some of its losses. The Standard & Poor’s 500 index slid 1.2 percent.

Friday’s fall slated the major averages for their first weekly losses since the start of the month.

Investor fears were reflected in gold’s extended rally, which powered the safe-haven nearly 1.7 percent to a seven-year-high of $1,648. Meanwhile, the yield on the 30-year Treasury fell to an all-time low, suggesting investors’ confidence in the economy has been shaken. Oil prices also fell nearly 1 percent off concerns that the outbreak could dampen crude demand.

“While the number of new cases of coronavirus continues to slow in China, the spread outside the country is escalating and it seems the market is waking up to the impact on both individual companies and the wider economy,” Russ Mould, investment director at AJ Bell, wrote in commentary Friday. “Profit warnings linked to the health crisis, as companies are either hit by slowing consumer demand in China or impact on their supply chain, are starting to trickle out with the impact on iPhone sales revealed by Apple earlier this week the most high profile of these.”

The virus has killed more than 2,000 people worldwide and sickened more than 75,000, and the fallout has rippled around the globe through supply chain disruptions, cratering tourism and travel, and widespread store closures that

Read More Here...

Dow sinks as coronavirus fallout continues

By The Washington Post · Taylor Telford · BUSINESS, US-GLOBAL-MARKETS

U.S. stock markets ended the week down, as signs of the coronavirus’ chilling effect on the global economy continued to surface in earnings and manufacturing data.

The tech-heavy Nasdaq closed down 1.79 percent on Friday, with tech stocks like Apple Inc., Amazon and Alphabet, the parent company of Google, hit particularly hard. Dow Jones industrial average closed down 0.78 percent in the red and at one point was down more than 300 points, but regained some of its losses. The Standard & Poor’s 500 index slid 1.2 percent.

Friday’s fall slated the major averages for their first weekly losses since the start of the month.

Investor fears were reflected in gold’s extended rally, which powered the safe-haven nearly 1.7 percent to a seven-year-high of $1,648. Meanwhile, the yield on the 30-year Treasury fell to an all-time low, suggesting investors’ confidence in the economy has been shaken. Oil prices also fell nearly 1 percent off concerns that the outbreak could dampen crude demand.

“While the number of new cases of coronavirus continues to slow in China, the spread outside the country is escalating and it seems the market is waking up to the impact on both individual companies and the wider economy,” Russ Mould, investment director at AJ Bell, wrote in commentary Friday. “Profit warnings linked to the health crisis, as companies are either hit by slowing consumer demand in China or impact on their supply chain, are starting to trickle out with the impact on iPhone sales revealed by Apple earlier this week the most high profile of these.”

The virus has killed more than 2,000 people worldwide and sickened more than 75,000, and the fallout has rippled around the globe through supply chain disruptions, cratering tourism and travel, and widespread store closures that

Read More Here...

Dow sinks as coronavirus fallout continues

By The Washington Post · Taylor Telford · BUSINESS, US-GLOBAL-MARKETS

U.S. stock markets ended the week down, as signs of the coronavirus’ chilling effect on the global economy continued to surface in earnings and manufacturing data.

The tech-heavy Nasdaq closed down 1.79 percent on Friday, with tech stocks like Apple Inc., Amazon and Alphabet, the parent company of Google, hit particularly hard. Dow Jones industrial average closed down 0.78 percent in the red and at one point was down more than 300 points, but regained some of its losses. The Standard & Poor’s 500 index slid 1.2 percent.

Friday’s fall slated the major averages for their first weekly losses since the start of the month.

Investor fears were reflected in gold’s extended rally, which powered the safe-haven nearly 1.7 percent to a seven-year-high of $1,648. Meanwhile, the yield on the 30-year Treasury fell to an all-time low, suggesting investors’ confidence in the economy has been shaken. Oil prices also fell nearly 1 percent off concerns that the outbreak could dampen crude demand.

“While the number of new cases of coronavirus continues to slow in China, the spread outside the country is escalating and it seems the market is waking up to the impact on both individual companies and the wider economy,” Russ Mould, investment director at AJ Bell, wrote in commentary Friday. “Profit warnings linked to the health crisis, as companies are either hit by slowing consumer demand in China or impact on their supply chain, are starting to trickle out with the impact on iPhone sales revealed by Apple earlier this week the most high profile of these.”

The virus has killed more than 2,000 people worldwide and sickened more than 75,000, and the fallout has rippled around the globe through supply chain disruptions, cratering tourism and travel, and widespread store closures that

Read More Here...

Investors seek safety in bond market; stocks tumble

Stocks fell and bond prices rose sharply Friday on Wall Street amid signs that economic fallout from the viral outbreak that originated in China is hurting U.S. companies.

The yield on the 30-year Treasury reached a record low as investors sought the safety of U.S. government bonds. The price of gold climbed 1.7%.

The S&P 500 index fell 35.48 points, or 1.1%, to 3,337.75. The Dow Jones Industrial Average slid 227.57 points, or 0.8%, to 28,992.41. The Nasdaq lost 174.37 points, or 1.8%, to 9,576.59.

The Russell 2000 index of smaller company stocks gave up 17.46 points, or 1%, to 1,678.61.

Asian and European markets also fell.

New data showing manufacturing and business activity suddenly slowed this month stoked investors’ anxiety over the outbreak’s impact on company profits. New reports that infections are spreading added to traders’ jitters.

“There’s a little bit more concern about how hard this is going to impact, not just Asia, but also the broad global economy,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Technology stocks led the selling. Retailers, travel-related companies, banks and communication services stocks also took heavy losses. The sell-off capped a volatile, holiday shortened week that left the benchmark S&P 500 index with its first weekly loss after two weeks of gains.

Investors have been trying to gauge how damaging the virus outbreak will be to corporate earnings, and whether supply chain interruptions, softer sales and other problems stemming from travel restrictions, business and factory closures in China will continue to hurt companies well beyond the first quarter.

Several better-than-expected reports on the economy helped raise optimism earlier this week that the outbreak is not having a broad impact on the U.S. economy, but Friday’s clunker from IHS Markit fueled doubts.

Preliminary data suggest U.S. business activity is

Read More Here...

Investors seek safety in bond market; stocks tumble

Stocks fell and bond prices rose sharply Friday on Wall Street amid signs that economic fallout from the viral outbreak that originated in China is hurting U.S. companies.

The yield on the 30-year Treasury reached a record low as investors sought the safety of U.S. government bonds. The price of gold climbed 1.7%.

The S&P 500 index fell 35.48 points, or 1.1%, to 3,337.75. The Dow Jones Industrial Average slid 227.57 points, or 0.8%, to 28,992.41. The Nasdaq lost 174.37 points, or 1.8%, to 9,576.59.

The Russell 2000 index of smaller company stocks gave up 17.46 points, or 1%, to 1,678.61.

Asian and European markets also fell.

New data showing manufacturing and business activity suddenly slowed this month stoked investors’ anxiety over the outbreak’s impact on company profits. New reports that infections are spreading added to traders’ jitters.

“There’s a little bit more concern about how hard this is going to impact, not just Asia, but also the broad global economy,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Technology stocks led the selling. Retailers, travel-related companies, banks and communication services stocks also took heavy losses. The sell-off capped a volatile, holiday shortened week that left the benchmark S&P 500 index with its first weekly loss after two weeks of gains.

Investors have been trying to gauge how damaging the virus outbreak will be to corporate earnings, and whether supply chain interruptions, softer sales and other problems stemming from travel restrictions, business and factory closures in China will continue to hurt companies well beyond the first quarter.

Several better-than-expected reports on the economy helped raise optimism earlier this week that the outbreak is not having a broad impact on the U.S. economy, but Friday’s clunker from IHS Markit fueled doubts.

Preliminary data suggest U.S. business activity is

Read More Here...

Investors seek safety in bond market; stocks tumble

Stocks fell and bond prices rose sharply Friday on Wall Street amid signs that economic fallout from the viral outbreak that originated in China is hurting U.S. companies.

The yield on the 30-year Treasury reached a record low as investors sought the safety of U.S. government bonds. The price of gold climbed 1.7%.

The S&P 500 index fell 35.48 points, or 1.1%, to 3,337.75. The Dow Jones Industrial Average slid 227.57 points, or 0.8%, to 28,992.41. The Nasdaq lost 174.37 points, or 1.8%, to 9,576.59.

The Russell 2000 index of smaller company stocks gave up 17.46 points, or 1%, to 1,678.61.

Asian and European markets also fell.

New data showing manufacturing and business activity suddenly slowed this month stoked investors’ anxiety over the outbreak’s impact on company profits. New reports that infections are spreading added to traders’ jitters.

“There’s a little bit more concern about how hard this is going to impact, not just Asia, but also the broad global economy,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Technology stocks led the selling. Retailers, travel-related companies, banks and communication services stocks also took heavy losses. The sell-off capped a volatile, holiday shortened week that left the benchmark S&P 500 index with its first weekly loss after two weeks of gains.

Investors have been trying to gauge how damaging the virus outbreak will be to corporate earnings, and whether supply chain interruptions, softer sales and other problems stemming from travel restrictions, business and factory closures in China will continue to hurt companies well beyond the first quarter.

Several better-than-expected reports on the economy helped raise optimism earlier this week that the outbreak is not having a broad impact on the U.S. economy, but Friday’s clunker from IHS Markit fueled doubts.

Preliminary data suggest U.S. business activity is

Read More Here...