5 things to know before the stock market opens February 12, 2020
1. Dow to open higher after failing to hold on to record
Trader Michael Urkonis works on the floor of the New York Stock Exchange, January 28, 2020.
Bryan R Smith | Reuters
2. Sanders, Buttigieg and Klobuchar top three in New Hampshire primary
Democratic presidential hopeful Vermont Senator Bernie Sanders speaks at a Primary Night event at the SNHU Field House in Manchester, New Hampshire on February 11, 2020.
Timothy A. Clary | AFP | Getty Images
3. Biden donors are concerned after poor New Hampshire showing
Democratic presidential candidate former Vice President Joe Biden addresses the crowd during a South Carolina campaign launch party on February 11, 2020 in Columbia, South Carolina.
Sean Rayford | Getty Images
Biden, anticipating a poor New Hampshire finish, left for South Carolina even before Tuesday’s primary results were in. Donors backing Biden, who came in fourth in the messy Iowa caucuses, are divided over whether the former vice president can raise enough cash to continue his third run for the presidency. Panic set in among some of Biden’s financiers on Wall Street and in other industries when it became clear Tuesday night that the one-time Democratic front-runner wouldn’t hit the 15% threshold to score any delegates from the New Hampshire vote. Two Democratic candidates, entrepreneur Andrew Yang and Sen. Michael Bennet, already dropped out after poor New Hampshire showings.
4. Coronavirus cases top 44,500 with over 1,100 deaths
A woman wears a protective mask as she rides a bicycle on February 11.2020 in Wuhan. Hubei province, China. Flights, trains and public transport including buses, subway and ferry services have been closed for the twentieth days.
The new coronavirus that has sickened more than 44,500 people in over two dozen countries now has a name, COVID-19. The virus that’s believed to have emerged from a seafood market in the city Wuhan, China, likely originated in bats and then jumped to an “intermediate host” before infecting humans, World Health Organization officials said. The death toll rose to 1,113 in China. The outbreak could impact China’s commitments to buy U.S. agricultural products this year as part of the “phase one” trade deal between the two nations, White House national security advisor Robert O’Brien said Tuesday.
5. Bed Bath & Beyond stock losing about a quarter of its value
Shoppers exit a Bed Bath & Beyond Inc. store in New York, U.S.
Michael Nagle | Bloomberg | Getty Images
Shares of Bed Bath & Beyond were plunging about 25% in premarket trading Wednesday after the home goods retailer said sales in the first two months of its latest quarter were hit by increased promotions, falling store traffic and inventory management issues. The company said same-store sales for December and January fell a greater-than-expected 5.4%. “We are experiencing short-term pain in our efforts to stabilize the business, including the pressures of store traffic trends coupled with our own executional challenges,” Chief Executive Officer Mark Tritton said in a statement.
— Reuters contributed to this report.