Covid-19 has now claimed more than 2000 lives with the number of cases beyond 74K.
Despite Apple (APPL) coronavirus related revenue warning, the NASDAQ closed at a record high on Tuesday.
Boeing (BA) found debris in undelivered 737 MAX fuel tanks, an obvious quality control issue. Boeing has ordered inspections of all MAX planes in storage, around 400. There are an additional 385 MAX planes that have been delivered and grounded that Boeing recommends be inspected but it’s not clear if Boeing personnel will be involved.
Groupon (GRPN) is down over 20% overnight after disappointing earnings. They have decided to stop selling merchandise which CEO Rich Williams says has “become a significant drag on our business.”
Earnings include ZG, ADI, BHC, DISH, IMAX, CAR, SAM, and WING.
It’s a Fed day with minutes released @ 2:00pm ET. Fed speakers include Mester @ 8:30am ET, Kashkari @ 11:45am ET, and Kaplan @ 1:30pm ET.
The economic calendar focus is PPI and Housing numbers @ 8:30am ET.
Volatility continues to contract as the ESH20 climbs higher; expect that trend to continue.
Size bias is a divergent short into the 8:30am ET numbers, but on significantly lighter GLOBEX volume than recent.
