Your Evening Briefing
Your Evening Briefing
(Bloomberg) --
Senator Bernie Sanders often says Wall Street is a major force behind many of America’s ills. And a number of his policies, if enacted, would likely be anathema to the financial industry. So how come the masters of the universe aren’t lining up to squash him now that he’s the Democratic frontrunner?
Here are today’s top stories
President Donald Trump was seeking to downplay the threat posed by the coronavirus as the U.S. Centers for Disease Control struck the exact opposite note. Investors seemed to be taking their cue from the CDC: markets cratered for a second day in a row.
Even before the virus began to spread, global trade was on a downward slope thanks to the U.S. trade war with China and Germany’s industrial slump, new data show.
Tyler Cowen writes in Bloomberg Opinion that just-in-time supply chains are especially vulnerable as damage from the virus worsens.
Whether Sanders remains alone atop the Democratic field may be decided Tuesday night when he’s expected to be the main target in the latest televised debate. The reason? A good showing in the South Carolina primary on Feb. 29 and the following week on Super Tuesday may make his march to the nomination unstoppable.
Aside from the White House, Democrats are also thinking about taking over the Senate. Trump’s inability to stop an internecine Republican brawl over a Georgia seat may help them in that log shot endeavor.
Walmart wants to grab a share of the $3.6 trillion market in health spending, with the help of its 150 million weekly shoppers, Bloomberg Businessweek reports.
What’s Joe Weisenthal thinking about? The Bloomberg news director is assessing winners and losers in the coronavirus-driven equities faceplant. Among the beneficiaries are (unsurprisingly) Gilead, which is making a potentially useful antiviral drug. Losers include Live Nation, which makes its money putting on public events.
What you’ll need to know tomorrow
- Don’t blame the quants for Monday’s market carnage.
- Economists are gaming out a pandemic’s threat to global growth.
- Safety failures helped fuel Italy’s coronavirus surge.
- Calpers’ top money man is swept up in China espionage fears.
- One key corner of the oil market is shrugging off the coronavirus.
- Men’s shaving upstart Harry’s goes from web to Walgreens.
- Home prices in 20 U.S. cities rose by the most in almost a year.
What you’ll want to read in Bloomberg Pursuits
The bar at the back of business class is on its way out. A high-altitude lounge that does double duty as a co-working space is taking its place. But don’t worry: there will still be free drinks.
To contact the editor responsible for this story: Joshua Petri at jpetri4@bloomberg.net
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