Coronavirus under monitor as China return to production
Today, the workers in China restart working in the factory after an extended shutdown early this month. Progress might be slow as the workers must follow quarantine orders. If China could not solve the coronavirus infection by March it could shake the market and could frustrate the economy further.
On economic data, traders and investors will observe the release of FOMC minutes of the meeting.
Asian & European Stock market
The Asian stock market traded higher as China returns to production. Japan’s stock market up 206.90 points (+0.89%) to 23,400.70, China stock market down 9.57 points (-0.32%) to 2,975.40 and Australia ASX 200 up 30.90 points (+0.43%) to 7,144.60. The European stock market also traded higher. DAX Germany up 0.46%, UK FTSE up 0.92%, Euro STOXX600 up 0.63%
Dow Jones Industrial Average (INDU)
DJIA closed lower and might set to start a bearish correction toward the daily SMA 50. No change in the long-term trend yet, the index needs a lower low to change the current bullish trend. At the current time, DJIA futures pointed up 60 points, we might not see a bearish correction and the index may attempt for a fresh all-time high.
Hess Corporation (HES)
HES share prices trend has changed from bullish to bearish. At the current time, the share prices is making bullish correction and soon will test daily SMA 200. When the share prices testing daily SMA 200, traders could prepare to enter short positions.