Political Tension, Virus Worries, Jobs Picture All In Mix As Market Starts Under Pressure

Political Tension, Virus Worries, Jobs Picture All In Mix As Market Starts Under Pressure

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Key Takeaways:



Politics still a main theme this week with an eye on possible stimulus updates

Early weakness could reflect virus worries, tension in Washington

Earnings season erupts later this week, but data and earnings thin early on



Mondays might get a bad reputation on Wall Street if they keep starting out like this.

For the second week in a row, stocks begin in a slump. Last week they recovered to hit new record highs by Friday, so there's that. Rising cases of coronavirus and the swirl of events around President Trump could be contributing to this early weakness. Also, the employment report last Friday didn't look all that bad when you drill down into it, but over the weekend some analysts were questioning the data and worrying about what it might reflect.

Additionally, there seems to be a bit more of a “risk-off” sentiment taking shape today. Volatility is on the rise, bitcoin is down, and gold is edging higher. Bonds are holding in place, however.



With earnings and data a bit thin today and tomorrow, it wouldn't be too surprising if