Globally stocks tanked yesterday after more cases of the coronavirus were confirmed over the weekend, ratcheting up worries over the virus’ impact on the global economy.

Sales of new U.S. single-family homes unexpectedly fell in December, likely held down by a shortage of more affordable homes, but the housing market remains supported by lower mortgage rates.  The Commerce Department reported new home sales slipped 0.4% to a seasonally adjusted annual rate of 694,000 units last month, with sales in the South dropping to a one-year low. It was the third straight monthly decline in sales.

Boeing has secured more than $12 billion in financing from more than a dozen banks as the industrial giant shores up their balance sheet amid the nearly yearlong grounding of the 737 Max following two fatal crashes.  Boeing is expected to detail the rest of their turnaround strategy when the report earnings on Wednesday.

Disney, McDonald’s, Starbucks and other U.S. companies with significant footprints in China are suspending operations and instituting travel restrictions for employees as they respond to the outbreak of the coronavirus.

With Northwest Quadrant Wealth Management, I'm Tyler Simones