turned into a hot mess after problems with a mobile app.
This will go down in history as the first caucus in Iowa where every candidate got to give their victory speech.
– Paul Danahar (@pdanahar)
February 4,
Onto our call of the day , which checks in with what’s on the worry list at hedge fund Third Point LLC and manager Dan Loeb from the recently released fourth-quarter newsletter .
Loeb lays out what could change the bullish mood for stocks, which has been driven by friendly monetary conditions and a benign economic backdrop.
“We are wary of many factors that can possibly upset the current Goldilocks environment, chief among them the further spread of the coronavirus, derailment of further Chinese trade negotiations, a political upset from the far left in the US Presidential election, or further escalation of tensions in the Middle East, ”Loeb says.
The hedge fund has one more worry:“ The Fed has said it would be patiently waiting for inflation to overshoot, which It makes the current case for equities compelling, but a sudden turn in inflation could lead to a backup in rates and cause market pain. ”
As for that potential political upset, a far-left candidate likely follows to Massachusetts Sen. Elizabeth Warren or Vermont’s Bernie Sanders, who has been leading in the polls. Some analysts have said investors aren’t thinking enough about a possible Sanders win .
Read Third Point’s full thoughts here .
The market
Dow DJIA, 0. (%) , S&P SPX, 0. %
and Nasdaq COMP, 1. (% ) futures are climbing , alongside European stocks (SXXP, 1. (%) and oil prices (CL) , 1. (% ) . It was also solid green across Asia, with a 2.6% gain for Chinese stocks (0) , 2. % .
That is as China’s coronavirus cases (topped) , (0 , with
dead and Hong Kong reporting its (first death as the country shut most of its borders and healthcare workers went on strike.)
The chart
Wynn Resorts (WYNN, 1. % is tumbling in premarket. That is after officials in Macau, known as the Las Vegas of Asia, reportedly told casinos to shut for two weeks to contain the spread of coronavirus.
The buzz
Shares of Google parent Alphabet (GOOGL, 3. %
GOOG, 3. 90% are down after revenue disappointed . The company also broke out cloud and YouTube revenue.
Earnings are rolling in from household products maker Clorox (CLX,) – 0. % , energy group ConocoPhillips (COP, – 0.) % and cruise operator Royal Caribbean RCL, – 0. % . After the close, we’ll hear from biotech Gilead Sciences (GILD, 5. % , Ford Motor (F, 1. % (F, 1. % , Disney (DIS, 2. 34% , Snapchat parent Snap (SNAP, – 0. (%) and fast-food chain Chipotle (CMG, 0.) % .
Random reads
Kansas City Chiefs NFL player Derrick Nnadi celebrates Super Bowl win by picking up adoption fees for shelter dogs
Botswana will (auction off rights
to hunt elephants after lifting a ban last year
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