Market focus is largely attuned to the potential economic fallout of China’s fast-spreading coronavirus.
China’s National Health Commission reported Friday that 75,465 cases of the coronavirus had been confirmed, with 2,236 deaths nationwide.
Earlier this week, the International Monetary Fund (IMF) warned the further spread of the deadly flu-like virus would amplify its global economic impact, with a long-lasting outbreak likely to result “in a sharper and more protracted slowdown in China.”
South Korea reported 52 new cases of the coronavirus on Friday, taking the country’s death toll to 156. Meanwhile, Japan reported the first fatalities from aboard the virus-hit Diamond Princess cruise ship that has been quarantined in Yokohama since early February.
Data, Fed speeches
On the data front, a flash reading of manufacturing purchasing managers’ index (PMI) for February and services PMI for February will both be released at 9:45 a.m. ET. Existing home sales for January will be published slightly later in the session.
Market participants are also likely to monitor a flurry of speeches from policymakers at the U.S. central bank.
Dallas Fed President Robert Kaplan, Fed Governor Lael Brainard, Fed Vice Chair Richard Clarida, Atlanta Fed President Raphael Bostic and Cleveland Fed President Loretta Mester will all comment on the world’s largest economy on Friday.
There are no major U.S. Treasury auctions scheduled on Friday.