January 30, 2020
By the end of the day, with stocks climbing well off of the lows, the focus has shifted to the four trillion-dollar giants (Microsoft, Apple, Google and Amazon) – two of which crushed Q4 earnings estimates today.
So, we have Q4 corporate earnings that continue to look strong. And that supports the data on the economy, which is good — a very strong consumer with an outlook for improvement in investment, government spending and better (post-trade war) exports.
But with numbers rising on the coronavirus, we have an overhanging risk.
Think about all of the events along the way over the past ten years: the near global economic apocalypse, there was Cypress, Greece, the near defaults of Italy and Spain, the debt ceiling sagas, government shutdowns, Russia/Ukraine, threats from North Korea, the Ebola scare, an oil price crash, Brexit, trade war and more.