28/02/2023

Here’s what you need to know before you head out for the weekend.

Here’s what you need to know before you head out for the weekend.The Chinese stock market will open again on Monday after the Lunar New Year holiday. The break was extended as Chinese officials fought to contain the coronavirus outbreak.
U.S. stock indexes sold off and oil prices slumped further on Friday as fear grew that the outbreak would take a significant bite out of economic growth in China.
Major U.S. airlines canceled flights to Wuhan for the next several months on Friday, and the Center for Disease Control announced that it was quarantining travelers coming from the region.
The major Chinese exchanges have been closed since Jan. 24.
Voters will get their first say in the 2020 presidential race on Tuesday in Iowa’s caucuses.
The results of the caucuses won’t be known until well after the U.S. stock market closes on Monday, but new polls released over the weekend could shed new light on which candidates investors see as the likely opponent of President Donald Trump in the general election.
On the national level, Vermont Sen. Bernie Sanders is virtually tied with former Vice President Joe Biden, according to the latest NBC News/WSJ poll. Both are seen as major contenders in Iowa.
Analysts and investors have raised concern about the proposed policies of Sanders and Massachusetts Sen. Elizabeth Warren, saying health care stocks are particularly vulnerable should either candidate win.
Google’s parent company is the first of several major companies to release earnings next week. Alphabet will release its fourth-quarter results after the bell.
Andy Hargreaves of Key Banc Capital Markets said in a note to investors that he expects the tech giant to post net ad revenue growth of 17.7% and a 53.6% gross margin for the quarter.
Alphabet’s earnings report comes after a mixed earnings season so far for large tech stocks. Shares of Apple and Amazon rose after their reports, but Facebook’s stock fell as the social media company’s costs rose.
This is the company’s first earnings report since co-founders Larry Page and Sergey Brin announced they were stepping away from day-to-day management of the company in December.
Major events (All times E.T.)
9:45 a.m. Markit PMI
10:00 a.m. ISM Manufacturing PMI
10:00 a.m. Construction spending
2:00 p.m. Senior loan officer survey
2:00 p.m. Light vehicle sales
Major earnings
Alphabet (after the bell)
CNBC’s Michael Bloom contributed to this story.