Reminder: It is going to be a long weekend in the US

Author: Justin Low | Category: News

US markets will be closed on Monday in observance of President's Day

Wall St
The big question to investors later today will be the same as the last three Fridays i.e. are you comfortable to hold on to risk trades going into the weekend?

In this case, there is going to be three days of uncertainty - compared to the usual Saturday and Sunday - for Wall Street and that will be something to consider later today.

The risk mood now is still looking rather mixed with European equities mildly higher while Treasury yields are keeping lower on the session. US futures are also pointing to mild gains for now but we'll have to see if the mood switches once US traders step in.

The backdrop of the coronavirus outbreak is that there appears to be some abating fears outside of the Hubei province, but there are still plenty of doubts hanging over the picture and I'm not sure if that is enough to spur continued greed ahead of the weekend.

But after the way Wall Street recovered yesterday, you can't rule out a break in the recent trend. It's going to be interesting to find that out in the session ahead.

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