1-29 A bit long today

China news:
CHINA GOVT ECONOMIST ESTIMATES THAT IMPACT OF CORONAVIRUS ON CHINA’S ECONOMY COULD BE SIGNIFICANTLY BIGGER THAN THAT OF SARS OUTBREAK – [RTRS] Nomura echos these comments


6013 confirmed cases, 9239 suspected cases, and 132 deaths as of 1-29 12:00 A.M in China


BBC: Australian scientists have become the 1st to recreate the new coronavirus outside of China, saying it’s a significant breakthrough; Chinese scientist have recreated the virus & its genome sequence but not the virus itself; the discovery will be shared with WHO https://bbc.in/2vvH99A


It could have been a lot worse for Hong Kong’s big market reopen as investors sought to gauge the widening impact of the coronavirus on China’s economy. The Hang Seng Index fell as much as 3% Wednesday on the first day of trading after the Lunar New Year. Though that was briefly its worst slide on a closing basis since October 2018, the index steadied to end the day 2.8% lower — matching its loss from Jan. 21.( BBG)


Many global firms, excluded from epidemic insurance, face heavy coronavirus costs reut.rs/2uEGKkG more evidence of possible hits to Worldwide GDP Growth


British airways canceling flights to china,Toyota shutting operations in China till Feburary 9th, First case reported in the Middle East and U.S. weighing to ban all flight from china


Fed meeting today:
Likely a non-event, Statement should be little changed vs last month they may raise the Interest on Overnight reserves (IOER) but this is a technical move and has little impact on monetary policy. The press conference is where we may see some excitement, be on the lookout for any question regarding fed balance sheet, Will they halt Purchase of T-bills in April as they have stated? Also watch for Question on the Impact of Corona virus on Worldwide GDP and if Powell talks about negative impact of Boeing on U.S. GDP


Earnings
Apple: Adj EPS $4.99 vs $4.55 cons; Rev $91.8Bn vs $88.5Bn cons it was the best quarter ever for a U.S. Company


“It was sort of a blockbuster quarter all the way around,” Apple (CEO Tim Cook declared after blowout earnings and revenue during the holiday quarter. Net income for the latest period rose 11% to $22.24B, thanks to rising iPhone sales for the first time in a year and soaring demand for add-ons like AirPods. In fact, Apple’s fastest-growing business segment, “Wearables, Home and Accessories,” is now bigger than Mac. Apple also reported $207.06B in cash on hand, hosting one of the largest cash piles of any U.S. company. AAPL +2% premarket. ( Seeking Alpha)

Despite posting strong holiday sales in the U.S., Starbucks (NASDAQ:SBUX) shares fell nearly 2% AH after warning about the scale of the coronavirus disruption in China. The coffee chain is temporarily shutting more than half of its near-4,300 cafes in the country – its largest market outside the U.S ( seeking alpha)


GE earnings very good Stock +5%
Boeing earnings less bad then feared stock +3% even though the cost of grounding 737 max increased to $20B
Markets:
Spoos,Dollar,Bonds and Oil higher. Stocks higher because of earnings Bonds higher because of corona virus worries

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