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Russia said to not support deeper output cuts – Reuters

 Russia is said to not support deeper output cuts, prefers extension of the current OPEC deal. Reuters was citing one source familiar with the matter.

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Market implications

WTI hit a fresh low for the day to $49.41 on the news. More to come...

Fed's Daly: Policy is in a really good position, labour market had more room to run

Federal Reserve's Daly says she is not looking for coronavirus outbreak to do anything material to US economy. Key notes Doesn’t See Virus Having Mate
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US ISM Non-manufacturing consistent with moderate expansion in growth – Wells Fargo

The ISM non-manufacturing index rose in January to 55.5, surpassing expectations. Through the monthly volatility, the headline index remains consisten
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