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Why hedge fund manager Dan Loeb is staying ‘wary’ of this too-perfect market – MarketWatch, Marketwatch.com

Why hedge fund manager Dan Loeb is staying ‘wary’ of this too-perfect market – MarketWatch, Marketwatch.com
                                                                                                                                                                                                                                                                                                                                                                                            

It has been a wild night in Iowa, and the coronavirus death toll is not slowing.

But stock markets are ready to rip higher, led by Chinese equities, as optimism over that big cash injection by the People’s Bank of China and upbeat U.S. data on Monday are carrying over.

Neil Wilson, Markets.com’s chief market analyst, says if markets get through the rest of the week without a big escalation in Europe or U.S. coronavirus cases, then stocks will be in fighting mode – with the Dow                                                                                                                                                                                                                       DJIA, 0. (%)                                                                                                                                                          reaching for 46, (0 and the S&P)                                                                                                                                                                                                                       SPX, 0. %                                                                                                                                                          aiming at 3, 427.

“We are entering a key phase of the outbreak now in terms of how we measure the economic damage and whether it produces a material reduction in equity valuations,” Wilson tells clients.

Meanwhile, politics is grabbing attention this morning as Iowa’s Democratic presidential caucuses – the party’s first nominating contest for the (election –

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