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February 24, 2020
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Dow to snap 4-day winning streak, waiting on jobs report

Dow to snap 4-day winning streak, waiting on jobs report
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Traders work on the floor of the New York Stock Exchange.

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8:24 am: Here are Friday’s biggest analyst calls of the day

  • Credit Suisse downgraded Ford to neutral from outperform
  • Goldman Sachs upgraded Domino’s Pizza to buy from neutral
  • Goldman Sachs added Workday to the conviction buy list
  • Credit Suisse downgraded Sirius XM to neutral from outperform
  • BTIG downgraded Yum Brands to neutral from buy
  • Susquehanna upgraded Twitter to positive from neutral
  • Guggenheim downgraded Twitter to neutral from buy
  • Cowen downgraded Marvell Technology to underperform from outperform
  • Gordon Haskett upgraded General Electric to hold from underperform
  • DA Davidson downgraded GrubHub to underperform from neutral
  • Benchmark initiated Boeing as buy

CNBC Pro subscribers can read more here. —Bloom

8:12 am: Coronavirus hits major Asian markets

While the U.S. stock market has recovered most of the losses from the deadly coronavirus, major Asian markets are still in the red on concerns about the fast-spreading epidemic. The Shanghai Composite Index is down 5.7% this year, while the Taiwan SE Weighted Index fell 3.2% in 2020. Equity benchmarks in Thailand, Hong Kong and Singapore are also still negative. —Li

8:07 am: Jobs report approaches

The Labor Department’s report on nonfarm payrolls for January will set the tone for Friday. The consensus expectation is for a net gain of 158,000 jobs and a 3.5% unemployment rate, according to Dow Jones. The Labor Department is also expected to release revisions to its full-year numbers for 2019. —Pound

8:02 am: Uber climbing after improved profitability timeline

Shares of Uber climbed 7% in premarket trading after the company said during its fourth-quarter results that it expects to be profitable by the end of next year, ahead of its previous forecast. The announcement came as Uber reported a quarterly loss that wasn’t as bad as Wall Street expected, as well as improving revenue growth. —Sheetz

7:55 am: Dow futures drop about 100 points, Wall Street to snap 4-day winning streak

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