Stocks have generally shrugged off the coronavirus scare — briefly falling when the outbreak looks to be accelerating before continuing on an upward trajectory.
In other corners of the market, however, the coronavirus has been much more consequential.
Brent prices remain near $55.10 per barrel, well below the six-month average of $61.79. The S&P 500's energy sector, meanwhile, has shed 9.1% this year. The broader index is up 4.6%.
Concerns about demand from China are also weighing on commodities like copper. ING strategists, in recent note to clients, explained the problem this way: "China is the kingpin of the global commodities market. The longer factories remain closed, travel restricted and construction stalled, the larger the ramification for commodities demand."
Looking beyond stocks, though, the market rebound could be more drawn out — especially as countries other than the United States begin to tally up the economic impact.
Barclays CEO under investigation over Epstein links
The details: Barclays said the relationship between Staley and Epstein was the subject of an inquiry from the Financial Conduct Authority, to which Barclays responded. The regulator then launched a probe — still ongoing — into Staley's characterization of the relationship to Barclays, and what the bank then told regulators.
Stock drop: Shares in the bank were trading as much as 3% lower in London on Thursday morning.
In its statement, Barclays said Staley had developed a professional relationship earlier in his career with Epstein, who died in jail last year while awaiting trial on sex trafficking charges. The bank said Staley had told the board that he had no contact with Epstein since becoming Barclays CEO in December 2015.
Why BP's new climate targets are a big deal
The promise: Bernard Looney, the company's new CEO, has pledged to cut greenhouse gas emissions from its global operations, as well as emissions that result from the oil and gas it produces, to net zero by 2050. By that same date, BP aims to halve the carbon intensity of all the products it sells. It's reorganizing the firm to make this happen.
Details about exactly how BP will reach these goals remain scant ahead of a presentation in September. Still, the commitments are the most ambitious from any major oil company to date. Shell has set targets to rein in emissions from its products, but hasn't gone as far, while America's Chevron and ExxonMobil lag far behind.
"It's clear that net zero is where investors are pushing companies," Andrew Logan, senior director of oil and gas at Ceres, a nonprofit that lobbies for companies to take action on climate change, told me.
BP's shares rose 1% after the announcement, indicating investors could get on board. But low oil prices could make life difficult for BP as it attempts a major transition. Shares are off 3.5% on Thursday.
Coming tomorrow: US retail sales for January are expected to highlight the strength of the American consumer.