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First Call March 2, 2020
- S&P futures down 0.5%, with a very volatile overnight session after US equities suffered their biggest weekly pullback last week since October 2018 on concerns about the spread of the coronavirus outbreak outside of China.
- Asian equities higher overnight with China the standout, up over 3%.
- European markets lower after being up early.
- Treasuries extending their rally with curve steepening.
- Dollar weaker on the major crosses after losing more than 1% last week.
- Gold up 2.2%.
- WTI crude up 1.2% after falling more than 16% last week.
- S&P bullish sentiment is at 12%
- On today's Daily Note I will discuss the oversold conditions that I'm seeing