Why This Chicago Progressive Had to Delete Her Account Following This Post
This Is How You Know Dems Might Be Panicking Over That Sign Attacking...
The Pathetic List of Words Democrats Want Other Democrats to Stop Using
Gavin’s Limpy Bluster
No, We Don’t Want a Theocracy, Not Even Close
How Did the Left Mutate?
A Quick Bible Study Vol. 282: Psalm Summer Part 4 With Psalm 19
The West Should Have 'No Vacancy' for Corrupt Ukrainian Kleptocrats
As DoJ Will Reveal, America Endured an Insurrection, Undertaken by Democrats
Vivek Ramaswamy Surges Ahead in Ohio Governor's Race
FBI's 'Summer Heat' Initiative Under Trump to Make the U.S. Safe Again
California’s Homeless Crisis: Two Decades of Empty Promises Under Newsom’s Watch
Socialist Zohran Mamdani’s Muscle Showdown Falls Flat as Social Media Roasts His Bench...
What Every American Woman Needs to Know Before 30
An Encouraging Pro-Life Victory
OPINION

Virus Gripping Market

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Dake Kang

Word out of China that the coronavirus created a “grave” situation, coupled with reports it’s getting stronger, have sparked major selling in the market this morning.  Although the death toll has risen, the numbers pall in comparison to the SARS outbreak.  But the difference that has everyone concerned is the absence of symptoms. 

Advertisement

The unknown factor is also weighing on the market this morning.  This as 145 S&P 500 components are set to report, including most of the momentum names that have led this rally. 

This morning has seen upgrades and higher targets on some of the biggest winners scheduled to report this week:

  • Facebook (FB)

$250 from $240 at Stifel

  • Amazon (AMZN)

$2,300 from $2,100 at The Benchmark Company

  • Advanced Micro (AMD)

$65 from $50 Rosenblatt

$50 from $45 at Susquehanna

Then there’s Boeing (BA), which is under pressure from conflicting reports of a possible commercial airline crash in Afghanistan.

We have to keep our powder dry and not panic.  It’s fine to take profits if underlying fundamentals seem to have peaked.  Keep in mind, some of the early 2020 rally was driven by a desire not to miss out, and now, that psychology and those buyers might be spooked out.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement