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“We are drowning in information but starved for knowledge.” – John Naisbitt

After two days of declines, US futures are trying their best to close off the week on a positive note and break a two-week streak of multi-percentage point declines for the major indices.  Even a modest loss today would still put equities in the black for the week, but it’s never fun to head into the weekend on a down note.

The economic calendar is relatively light today with Leading Indicators and Michigan Sentiment both coming out at 10 AM.  We’ll also hear from Fed Presidents Bullard and Bostic before noon.

Be sure to check out today’s Morning Lineup for a rundown of the latest stock-specific news of note, market performance in the US and Europe, trends related to the COVID-19 outbreak, and much more.

After eleven straight months where large-cap growth stocks have outperformed, value stocks have held up considerably well this month.  While the Russell 1000 Growth index is down over 7% MTD through Thursday, the Value index is holding up much better with a decline of less than one percent.  The performance cap of 6.6 percentage points for Value relative to Growth is currently wider than any other month since March 2001!  Needless to say, unless things change drastically between now and month-end, Value will finally break its streak of underperformance.