FYI: U.S. stocks are on track for their worst week since December as shaky economic data from the eurozone, renewed trade uncertainty and corporate profit warnings stalled an impressive run of market gains.
Investor unease has grown over the past three trading sessions. U.S. company earnings are largely beating lowered expectations, but forecasts for future profits have been weakening. At the same time, global growth projections also are worsening.
Investors were jolted Thursday when the European Commission slashed its growth forecasts for Germany and Italy, and the Bank of England sounded a warning on a slowing global economy. Later that day, White House economic adviser Larry Kudlow said the U.S. and China were still “far away” from securing a trade deal.
“I’m worried,” said Andrew Slimmon, senior portfolio manager with Morgan Stanley Investment Management. While global growth is an ever-present concern, he said he is focusing on recent signs of a slowdown in corporate earnings.
For the first quarter, companies in the S&P 500 are now expected to post their first year-over-year profit decline in nearly three years. The swift drop in estimates over recent weeks has him worried about not just one, but two consecutive quarters of earnings contraction.
“As much as companies look like they made fourth-quarter numbers, the 2019 estimates are dropping, and it strengthens my concern,” he said.
The Dow Jones Industrial Average fell roughly 63 points, or 0.27%, poised for its first weekly loss in the past seven weeks. The S&P 500 advanced 0.7% and the Nasdaq Composite gained 0.14%. Both of those indexes are also on track for weekly declines, a pause to their big advances.
Four of the eleven S&P 500 Sectors led by Utilities were in positive territory.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/global-stocks-waver-as-trade-economic-concerns-linger-11549616072Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-02-08/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2019-02-07/asia-stocks-set-to-drop-as-trade-worries-resurface-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/us-stock-futures-lower-as-trade-growth-worries-continue-to-hang-over-investors-2019-02-08/printIBD:
https://www.investors.com/market-trend/stock-market-today/leading-stocks-outperform-stock-market/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-down-for-third-day-on-lingering-trade-worries-idUSKCN1PX1BDCNBC:
https://www.cnbc.com/2019/02/08/stock-market-dow-futures-fall-more-than-100-points-amid-concerns-over-trade-growth.htmlU.K.:
https://www.marketwatch.com/story/ftse-100-struggles-as-investors-watch-trade-and-brexit-negotiations-2019-02-08/printEurope:
https://www.marketwatch.com/story/european-markets-succumb-to-more-losses-as-trade-worries-pressure-auto-oil-stocks-2019-02-08/printAsia:
https://www.marketwatch.com/story/asian-markets-drop-on-renewed-worries-over-us-china-trade-talks-2019-02-07/printBonds:
https://www.cnbc.com/2019/02/08/us-bonds-treasury-yields-move-lower-amid-anxiety-over-global-growth.htmlCurrencies:
https://www.cnbc.com/2019/02/08/forex-markets-greenback-australian-dollar-us-china-trade-in-focus.htmlOil:
https://www.cnbc.com/2019/02/08/oil-markets-global-economy-us-china-trade-in-focus.htmlGold
https://www.cnbc.com/2019/02/08/gold-markets-us-china-trade-global-economy-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
