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Global equities are in rally mode again this morning on easing concerns over the impact of the coronavirus and news of possible treatments. One number we’ve been watching closely over the last couple of weeks is the mortality rate which continues to drop. Through the latest reported global statistics, the mortality rate has dropped down to 2.01% which is the lowest we have seen since statistics have been published.
In economic news this morning, the ADP Private Payrolls report came in much higher than expected (291K vs. 157K). This was the strongest monthly print since May 2015 and the best report relative to expectations since the December 2011 report on 1/5/12 (325K vs 178K).
Shares of Twitter (TWTR) are poised to gap up over 7% this morning. From our Earnings Explorer, we found that since the company’s IPO over five years ago, TWTR has gapped up over 5% in reaction to earnings eight different times. Of those occurrences, the stock has continued higher from the open to close five times, but there was only one time where the stock sold off more than 2% from its opening print after gapping up over 5%.