rooster59 Posted March 13, 2020 Share Posted March 13, 2020 Stocks stage furious rally late after national emergency declared By Chuck Mikolajczak Traders work on the floor of the New York Stock Exchange (NYSE) after the opening bell of the trading session in New York, U.S., March 13, 2020. REUTERS/Lucas Jackson (Reuters) - Wall Street staged a furious rally in the waning moments of the session on Friday after U.S. President Donald Trump declared a national emergency to combat the rapidly spreading coronavirus, although major averages still suffered sharp losses for the week. In a volatile session, all three main indexes jumped more than 6% in early trading before paring to a gain of as little as 0.55% on the S&P 500 <.SPX> before rallying towards the close as Trump made the announcement with industry leaders of about $50 billion in federal aid to fight the disease. "The initial take, he started talking about $50 billion, the market asked 'where is that going?'" said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois. "But as he’s been bringing these various leaders to the front and they have been talking about what they are doing, that is really what the market is responding to." The indexes were still about 20% below record highs hit in mid-February, and each saw declines of at least 8% for the week. Since hitting the highs, markets have been besieged with big swings in the market, nearly matching as many days with declines of at least 1% as all of 2019. Friday's surge was the biggest one-day percentage gain for the S&P 500 since Oct 28, 2008. (Graphic: Volatility is back on Wall Street - https://fingfx.thomsonreuters.com/gfx/editorcharts/USA-STOCKS/0H001R8G0C9N/eikon.png) The Democratic-led U.S. House of Representatives will pass a coronavirus economic aid package on Friday, House Speaker Nancy Pelosi said, but it was unclear whether Trump and his fellow Republicans would support it. The Dow Jones Industrial Average <.DJI> rose 1,985 points, or 9.36%, to 23,185.62, the S&P 500 <.SPX> gained 230.38 points, or 9.29%, to 2,711.02 and the Nasdaq Composite <.IXIC> added 673.07 points, or 9.35%, to 7,874.88. All the main S&P 500 sub-indexes were trading higher, with financial stocks <.SPSY> rising 13.23% as expectations of further liquidity measures by the Federal Reserve pushed up Treasury yields, in what has become a very thin market. Oil also looked set to end the week with a silver lining, as both Brent <LCOcv1> and WTI crude <CLcv1> settled higher after a near-collapse in prices on Monday due to a price war between Saudi Arabia and Russia. The S&P 500 energy index <.SPNY> added 8.84%. Travel stocks, hammered in the rout, were trading higher, with the S&P 1500 airlines index <.SPCOMAIR> up 11.58% Hotel operators Marriott International Inc <MAR.O>, Hilton Worldwide Holdings <HLT.N> and Hyatt Hotels Corp <H.N> all gained at least 1%. Boeing Co <BA.N> jumped 9.92% but suffered its biggest weekly drop in its history on rising concerns about the company's growing cash burn. Apple Inc <AAPL.O> rose 11.98% and was among the top boosts to the benchmark S&P 500 and the blue-chip Dow, as the iPhone maker said it would reopen all 42 of its branded stores in China. Advancing issues outnumbered declining ones on the NYSE by a 4.73-to-1 ratio; on Nasdaq, a 2.95-to-1 ratio favored advancers. The S&P 500 posted 1 new 52-week highs and 120 new lows; the Nasdaq Composite recorded 2 new highs and 703 new lows. Volume on U.S. exchanges was 17.10 billion shares, compared to the 13.02 billion average for the full session over the last 20 trading days. (Reporting by Chuck Mikolajczak; editing by Jonathan Oatis and Diane Craft) -- © Copyright Reuters 2020-03-14 Follow Thaivisa on LINE for breaking Thailand news and visa info 1 1 Link to comment Share on other sites More sharing options...
Popular Post TopDeadSenter Posted March 13, 2020 Popular Post Share Posted March 13, 2020 Dead cat bounce. One of many to come over the next few weeks/months. The markets are reacting primarily to the fear, uncertainty and doubt surrounding the virus pandemic. Until the FUD clears the market will keep tanking. 11-13 weeks I read from UK govt sources is the estimated peak of this virus. Expect panic to increase until peak has passed. Pure guesswork but I expect stock markets to be closed entirely once nations armies are deployed to keep peace and try maintaining order. Without credible new earnings estimates from all companies, valuations are impossible - until the severity, duration and official reaction to the pandemic are all known knowns we will not have accurate earnings estimates. One simple way to calm the world and markets would be to consider renaming the virus. COVID19 sounds like a biological weapon(funny that!) and is terrifying. CoronaVirus sounds like something from a horror epidemic movie, also terrifying. Renaming it the WuFlu sounds cool and catchy and not scary at all - make it hip to have the WuFlu. A simple exercise in PR. All fear gone, the world bounces back in short order. 3 1 4 Link to comment Share on other sites More sharing options...
Popular Post J Town Posted March 14, 2020 Popular Post Share Posted March 14, 2020 "Dead cat bounce." I like that. The BEST thing for the market would be for Trump to stay away from microphones altogether except, perhaps, to utter two little words: "I resign." 5 3 1 Link to comment Share on other sites More sharing options...
Popular Post TopDeadSenter Posted March 14, 2020 Popular Post Share Posted March 14, 2020 8 minutes ago, J Town said: The BEST thing for the market would be for Trump to stay away from microphones altogether except, perhaps, to utter two little words: "I resign." I think uber capitalist Trump being POTUS is the only thing that is stopping markets from pure freefall at this stage. I can certainly say if there is even a whiff of Trump not winning the election, and for the US to embark on a socialist revolution with open borders and free healthcare for all comers I will dump the entire portfolio, and start shorting. Trump = stability, like it or not! 7 2 2 5 Link to comment Share on other sites More sharing options...
Popular Post malibukid Posted March 14, 2020 Popular Post Share Posted March 14, 2020 the guy can barely read a teleprompter???? 4 Link to comment Share on other sites More sharing options...
Popular Post Chomper Higgot Posted March 14, 2020 Popular Post Share Posted March 14, 2020 6 hours ago, TopDeadSenter said: I think uber capitalist Trump being POTUS is the only thing that is stopping markets from pure freefall at this stage. I can certainly say if there is even a whiff of Trump not winning the election, and for the US to embark on a socialist revolution with open borders and free healthcare for all comers I will dump the entire portfolio, and start shorting. Trump = stability, like it or not! You have been watching the news haven’t you?! 3 1 1 3 Link to comment Share on other sites More sharing options...
Popular Post Crazy Alex Posted March 14, 2020 Popular Post Share Posted March 14, 2020 11 hours ago, J Town said: "Dead cat bounce." I like that. The BEST thing for the market would be for Trump to stay away from microphones altogether except, perhaps, to utter two little words: "I resign." Yes, because the markets have hated Trump being president. Oh wait a minute.... 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post Crazy Alex Posted March 14, 2020 Popular Post Share Posted March 14, 2020 2 hours ago, Tug said: You did listen to that first speech dident you?you know the one we’re he said all travel and commerce coming from Europe was banned for 30 days dident you??you did see him deny responsibility for the bungled response to the virus yesterday dident you?you have a chronic case of trump delusion syndrome they should article 25 that man no excuses he’s blowing it Statistically, you're incorrect- or have some explaining to do. 12,000 Americans died as a result of Obama's handling of the swine flu epidemic in 2009-2010. Even worse, who knows how many thousands of lives would have been saved if Obama had simply restricted traffic from Mexico, where the virus originated. Based on the logic you've presented, Obama should have been thrown out of office. Please square your logic on the matter if you can. 1 3 Link to comment Share on other sites More sharing options...
Popular Post AlexRich Posted March 14, 2020 Popular Post Share Posted March 14, 2020 It looks more like a “suckers rally”. America is rolling out a high volume of testing. Unfortunately that is going to highlight the real number of infections. Trump was boasting yesterday about how low the numbers of infected is. The fool doesn’t quite grasp that those numbers are going to sky rocket a week or two after roll out. That’s the next shoe to drop. People will be getting laid off, businesses will not have the cash or credit to survive ... and President Biden will have to pick up the pieces. 1 1 1 3 Link to comment Share on other sites More sharing options...
zaZa9 Posted March 14, 2020 Share Posted March 14, 2020 15 hours ago, TopDeadSenter said: Dead cat bounce. One of many to come over the next few weeks/months. The markets are reacting primarily to the fear, uncertainty and doubt surrounding the virus pandemic. Until the FUD clears the market will keep tanking. 11-13 weeks I read from UK govt sources is the estimated peak of this virus. Expect panic to increase until peak has passed. Pure guesswork but I expect stock markets to be closed entirely once nations armies are deployed to keep peace and try maintaining order. Without credible new earnings estimates from all companies, valuations are impossible - until the severity, duration and official reaction to the pandemic are all known knowns we will not have accurate earnings estimates. One simple way to calm the world and markets would be to consider renaming the virus. COVID19 sounds like a biological weapon(funny that!) and is terrifying. CoronaVirus sounds like something from a horror epidemic movie, also terrifying. Renaming it the WuFlu sounds cool and catchy and not scary at all - make it hip to have the WuFlu. A simple exercise in PR. All fear gone, the world bounces back in short order. "Pure guesswork but I expect stock markets to be closed entirely once nations armies are deployed to keep peace and try maintaining order. " As first poster you sounded like you knew what you were talking about until this bit . Now ... well .... 5555555 2 Link to comment Share on other sites More sharing options...
BeltAndRoad Posted March 14, 2020 Share Posted March 14, 2020 15 hours ago, TopDeadSenter said: Dead cat bounce. One of many to come over the next few weeks/months. The markets are reacting primarily to the fear, uncertainty and doubt surrounding the virus pandemic. Until the FUD clears the market will keep tanking. 11-13 weeks I read from UK govt sources is the estimated peak of this virus. Expect panic to increase until peak has passed. Pure guesswork but I expect stock markets to be closed entirely once nations armies are deployed to keep peace and try maintaining order. Without credible new earnings estimates from all companies, valuations are impossible - until the severity, duration and official reaction to the pandemic are all known knowns we will not have accurate earnings estimates. One simple way to calm the world and markets would be to consider renaming the virus. COVID19 sounds like a biological weapon(funny that!) and is terrifying. CoronaVirus sounds like something from a horror epidemic movie, also terrifying. Renaming it the WuFlu sounds cool and catchy and not scary at all - make it hip to have the WuFlu. A simple exercise in PR. All fear gone, the world bounces back in short order. The WHO use the staff and serpent, also known as the Staff of Aesculapius, a serpent entwined rod as their logo. Wielded by the Greek God Asclepius, a diety associated with healing and medicine. He is the son of Apollo and CORONIS. Link to comment Share on other sites More sharing options...
Cryingdick Posted March 14, 2020 Share Posted March 14, 2020 16 hours ago, TopDeadSenter said: Dead cat bounce. One of many to come over the next few weeks/months. The markets are reacting primarily to the fear, uncertainty and doubt surrounding the virus pandemic. Until the FUD clears the market will keep tanking. 11-13 weeks I read from UK govt sources is the estimated peak of this virus. Expect panic to increase until peak has passed. Pure guesswork but I expect stock markets to be closed entirely once nations armies are deployed to keep peace and try maintaining order. Without credible new earnings estimates from all companies, valuations are impossible - until the severity, duration and official reaction to the pandemic are all known knowns we will not have accurate earnings estimates. One simple way to calm the world and markets would be to consider renaming the virus. COVID19 sounds like a biological weapon(funny that!) and is terrifying. CoronaVirus sounds like something from a horror epidemic movie, also terrifying. Renaming it the WuFlu sounds cool and catchy and not scary at all - make it hip to have the WuFlu. A simple exercise in PR. All fear gone, the world bounces back in short order. Agreed on the dead cat bounce. A lot of people think the same and are buying the dips and selling the rallies. That's the only prudent thing to do right now until this thing goes away. We also have the oil price wars and Iran is beginning to rattle her sabers again. Dip your toes in and don't overstay your welcome is the game right now. Won't be surprised to see the futures bright red and ugly come opening on Monday if there is a lack of great news. More than that stocks could even be expensive now as nobody has any idea of the correct PE ratios at this point. It's going to take an earnings season to reset prices. Stocks could actually be deceptively expensive. I must admit I nibbled off a little piece of Disney at around $92 a share though. Thank the good lord for trailing stops. Link to comment Share on other sites More sharing options...
Popular Post Cryingdick Posted March 14, 2020 Popular Post Share Posted March 14, 2020 1 hour ago, AlexRich said: It looks more like a “suckers rally”. America is rolling out a high volume of testing. Unfortunately that is going to highlight the real number of infections. Trump was boasting yesterday about how low the numbers of infected is. The fool doesn’t quite grasp that those numbers are going to sky rocket a week or two after roll out. That’s the next shoe to drop. People will be getting laid off, businesses will not have the cash or credit to survive ... and President Biden will have to pick up the pieces. Agreed. Did some light buying and set the triggers. Pretty wild when 1,000 and 2,000 point swings become normal. However once you get used to it there is good money to be made in these rallies. Right now the small guy has the advantage as he can just nibble. The big funds that must invest in huge quantities are forced to buy for clients. Apple and Microsoft have been great trading vehicles lately. At least if it goes the wrong way you get shares in great companies to hold. 3 Link to comment Share on other sites More sharing options...
Popular Post dananderson Posted March 14, 2020 Popular Post Share Posted March 14, 2020 i think the market is already pricing in and happy about a Joe Biden presidency. Fox news needs to understand that you can't sell nearly as many cathaters n pillows when your morbidly un-healthy audience is dropping like flies. These people would cull they own just to make a political point. 1 2 Link to comment Share on other sites More sharing options...
Popular Post IAMHERE Posted March 14, 2020 Popular Post Share Posted March 14, 2020 14 hours ago, J Town said: "Dead cat bounce." I like that. The BEST thing for the market would be for Trump to stay away from microphones altogether except, perhaps, to utter two little words: "I resign." Is there anything that can't be blamed on Trump? 5 Link to comment Share on other sites More sharing options...
Popular Post Jingthing Posted March 14, 2020 Popular Post Share Posted March 14, 2020 (edited) 1 hour ago, dananderson said: i think the market is already pricing in and happy about a Joe Biden presidency. Fox news needs to understand that you can't sell nearly as many cathaters n pillows when your morbidly un-healthy audience is dropping like flies. These people would cull they own just to make a political point. I agree. The markets definitely want the normalcy of Biden and the Commander of Chaos to leave. Obviously if the election was held right now, 45 would lose badly so Biden is now the presumed president to be by the markets. But it's not being held now. Edited March 14, 2020 by Jingthing 1 3 Link to comment Share on other sites More sharing options...
blazes Posted March 14, 2020 Share Posted March 14, 2020 28 minutes ago, Jingthing said: I agree. The markets definitely want the normalcy of Biden and the Commander of Chaos to leave. Obviously if the election was held right now, 45 would lose badly so Biden is now the presumed president to be by the markets. But it's not being held now. Ah, I get it: the crashing markets think Sleepy Joe is quasi-president and are getting out while the going's good? (Joke, to save you the bother.) I mean, at least the markets know what Bernie stands for (and have donned their tinfoil hats already), but if the markets react positively to Sleepy Joe that must be because they recognise he is an empty vessel making a LOT of noise and therefore EASY to manipulate (in the normal military/industrial complex way). Hail to (the new) Chief. 1 1 Link to comment Share on other sites More sharing options...
Scott Tracy Posted March 15, 2020 Share Posted March 15, 2020 This is all about Trump now? 1 1 Link to comment Share on other sites More sharing options...
metisdead Posted March 15, 2020 Share Posted March 15, 2020 A post using a trolling video has been removed. Link to comment Share on other sites More sharing options...
lannarebirth Posted March 15, 2020 Share Posted March 15, 2020 On 3/13/2020 at 8:33 PM, TopDeadSenter said: I think uber capitalist Trump being POTUS is the only thing that is stopping markets from pure freefall at this stage. I can certainly say if there is even a whiff of Trump not winning the election, and for the US to embark on a socialist revolution with open borders and free healthcare for all comers I will dump the entire portfolio, and start shorting. Trump = stability, like it or not! It was a short squeeze. Could run a few days. Link to comment Share on other sites More sharing options...
welovesundaysatspace Posted March 15, 2020 Share Posted March 15, 2020 A good time to buy cheap. I will wait a bit though — as long as The Chaos Family is fiddling with things, prices will fall even further. Link to comment Share on other sites More sharing options...
zydeco Posted March 15, 2020 Share Posted March 15, 2020 (edited) 38 minutes ago, welovesundaysatspace said: A good time to buy cheap. I will wait a bit though — as long as The Chaos Family is fiddling with things, prices will fall even further. You are here: Edited March 15, 2020 by zydeco 2 Link to comment Share on other sites More sharing options...
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