| What to watch today: Dow looks for first back-to-back gains in six weeks | | |  | FRI, MAR 20, 2020 | | | | AS OF FRI, MAR 20, 2020 • 08:32 ET | | Dow Jones Fut | | 20,087.19 | | Current: | 20,153.00 | | Change: | 278.00 | | Impl. Open: | 215.81 | | | S&P 500 Fut | | 2,409.39 | | Current: | 2,416.50 | | Change: | 27.50 | | Impl. Open: | 20.11 | | | NASDAQ 100 Fut | | 7,288.52 | | Current: | 7,472.75 | | Change: | 199.25 | | Impl. Open: | 202.23 | | | Russell 2000 Mini | | 1,058.72 | | Current: | 1,058.90 | | Change: | 19.10 | | Impl. Open: | 12.38 | | Dow futures were pointing to more gains at Friday's open on Wall Street. Nasdaq futures hit their 5% "limit up." If gains were to hold by the close, the Dow would log its first back-to-back advances since Feb. 5-6, one week before its Feb. 12 record high. Thursday's coronavirus-driven volatility saw the Dow off 3% before closing 0.95%, higher. (CNBC)
Heading into Friday, the Dow, down over 13% for the week, was tracking for its worst weekly loss since the 2008 financial crisis. Despite Thursday's gain, the Dow was still 32% below last month's record highs. (CNBC)
* 10-year Treasury yield falls to 1% to cap off a choppy week (CNBC) | | | Italy, which only has half the coronavirus cases of China, has now become the world's deadliest hot spot. Italy's death toll is 3,405 deaths among 41,000 cases. China, where the outbreak originated in December, has more than 81,000 cases and 3,253 deaths. The worldwide death toll surpassed 10,000 with cases increasing to nearly 245,500. Globally, over 86,000 patients are listed as recovered. (CNBC)
* Pornhub is offering free premium memberships to countries on coronavirus lockdown (CNBC) | | | | Boeing (BA) is strongly considering a temporary suspension of production at its twin-aisle jet factories, according to people familiar with the matter who spoke to Reuters. However, the company has not made a final decision on timing. Separately, Bloomberg reports that Boeing is considering cutting its dividend and laying off workers. | | | | Hertz Global (HTZ), Avis Budget (CAR) - Hertz, Avis, and privately held Enterprise Holdings asked the Treasury Department to be included in any travel industry aid. Hertz CEO Kathy Marinello told Bloomberg that the car rental industry has been hit as hard as the airline industry has. | | | | Carnival (CCL) reported adjusted quarterly profit of 22 cents per share, 5 cents below estimates, though revenue beat forecasts. The quarter did include cancellations and disruptions from the virus outbreak, and the cruise line operator said it cannot provide a full year forecast as those disruptions escalate. | | | | Kohl's (KSS) has withdrawn its earnings outlook for the current quarter and fiscal year, as it grapples with the hit it will take from the coronavirus pandemic. The department store chain has shut its stores nationwide, until April 1, at least, to try to help halt the spread of COVID-19. | | | | Crowdstrike (CRWD) reported a quarterly loss of 2 cents per share, smaller than the 8 cent loss that Wall Street had predicted. The cybersecurity company also gave upbeat guidance, with the coronavirus crisis spurring more to work at home and raising the need for more cyber protection. | | | | GameStop (GME) told its stores to stay open even in the event of state or city lockdowns, according to a memo obtained by gaming website Kotaku. The memo said the videogame retailer considered itself an "essential retail" operation. | | Darden Restaurants (DRI) said it's planning to offer delivery service to keep workers employed, but Olive Garden's parent isn't the only dinning company to consider doing so. The pandemic is also forcing many fine-dining restaurants to make similar transitions as their dining rooms close. (CNBC) | |  | | |
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