Don’s Notebook February 6, 2018

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Yesterday’s wild U.S. stock session, which saw the Dow Jones Industrial Average drop as much as 1,500 points, went global last night.

  • The MSCI Asia Pacific Index fell 3.5 percent to wipe out gains for the year, while Japan’s Nikkei 225 Stock Average closed 4.7 percent lower to enter a so-called correction, capping a 10 percent decline from the recent peak.
  • In Europe, the Stoxx 600 Index was 1.8 percent lower at 5:45 a.m. ET, with every industry sector losing ground.
  • S&P 500 futures were unchanged in the premarket but there were large swings in both directions.
  • Bitcoin briefly traded below $6,000 overnight last night as weakness in digital currency continued.
  • A barrel of West Texas Intermediate for March delivery dropped to $63.85 by 5:45 a.m. ET as raw materials were involved in the market selloff.

Corporate Quarterly Earnings announcements continue today. Notables Chipotle Mexican Grill, Gilead Sciences, Snap, Tapestry, Walt Disney and General Motors are among those expected.

Texas Instruments provides a business update to analysts today.

The JOLTS Report for December 2017 was released. The U.S. Bureau of Labor Statistics reported that the number of job openings was little changed from the previous month at 5.8 million on the last business day of December.

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Dr. Don Pratl is Director of Trader Development and Education for TradeStation. He joined TradeStation in 2016 after holding similar roles with other online brokerages. Don’s long career in the financial services industry reflects expertise in administering trading and investment strategy programs for retail investors as well as financial services professionals. Since the 1980s, he has held various positions in areas including CBOE trading floor order execution, marketing, sales, personnel management, training and customer service. Don holds series 3, 4, 7 and 63 FINRA licenses, earned his Ph.D. in Organization and Management, and his M.A. and B.A. in Political Science. He has been an occasional adjunct college instructor since 2004 at a range of institutions, teaching undergraduate, graduate and doctoral students using in-class and online formats.