UPDATE: News reports saying President Trump will declare a national emergency and invoke the Stafford Act to allow a faster government response.
President Trump has announced a press conference at 3pm EST today to discuss the government response to the Chinese coronavirus. Markets rebounded initially on the open but have since faded as traders wait for confirmation of a stimulus plan in place from Congress and the Treasury.
The Fed announced the buying of more debt securities.
Import Price Index (MoM) (Feb) printed at -0.5% vs -0.8% consensus estimate.
Import Price Index (YoY) (Feb) printed at -1.2% vs estimate of 1.1% estimate.
Export Price Index (MoM) (Feb) printed at -1.2% vs -0.4% estimate.
Export Price Index (YoY0 (Feb) printed at -1.3% vs 0.1% estimate.
Michigan Consumer Sentiment Index (Mar) PREL printed at 95.9 vs 95 estimate.