U.S. equity futures dip as states strive to re-start, Buffett sticks to cash

U.S. equity futures fall, extending the decline that started on Thursday as risk-off sets the tone for the start of the week.

Warren Buffett over the weekend tried to sooth (“never bet against America”), but he’s not a buyer here. Instead he’s unloaded all of his airline investments, and is keeping Berkshire’s cash hoard close.

S&P 500 futures fall 1.3%, Nasdaq futures slip 1.2% and the Dow futures are down 1.3%.

The fall comes after a number of states allow some non-essential businesses to open in an effort to re-start their economies.

Still, the World Health Organization reports that the U.S. suffered its highest 24-hour death toll yet from the coronavirus — 2,909 deaths as of 4AM Friday.

And tensions between the U.S. and China increase after Secretary of State Mike Pompeo said there’s a “significant amount of evidence” tying the coronavirus to a lab in the Wuhan region of China.

Crude oil falls 5.0% to $18.80 per barrel; gold creeps up 0.4% to $1,707.10 per ounce.

The U.S. Dollar Index rises 0.2% to 99.22.

https://seekingalpha.com/news/3568063-u-s-equity-futures-dip-states-strive-to-re-start-buffett-sticks-to-cash