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February 03, 2020

Wall Street sold off last Friday on more fears about the coronavirus. Its death toll is now over 350 but that is dwarfed by the deaths caused by the standard flu here in the US. This flu season has resulted in over 10,000 deaths in the US alone. The media may have overhyped the coronavirus and its effect on the US. As usual, the deep selloff is a knee-jerk reaction that will bounce back fairly quickly. 

Last week, the Fed decided to keeps rates unchanged. Unless they get significant data either way, they will continue to have a neutral stance on their rate policy.

The markets will continue to push higher as bulls continue to buy the dips.