|Day's Range||21,469.27 - 22,327.57|
|52 Week Range||18,213.65 - 29,568.57|
The question investors must now ask themselves is whether or not the market has already hit the bottom of this bear market, or whether investors should prepare themselves for worse to come.
If ever there were doubts about how the superaffluent are faring amid a pandemic for the ages, media mogul David Geffen wants to make it abundantly clear that, for his part, he’s doing just fine — and he wishes us all the best.
John Velis, a currency and macro strategist for the Americas at BNY Mellon, isn’t convinced the market has reached a bottom.
• The first chart shows that The Arora Report gave a signal to buy leveraged inverse ETF (SQQQ) or short-sell Nasdaq 100 ETF (QQQ) which represents the Nasdaq 100 Index, near the top of the stock market. An inverse ETF goes up when the stock market goes down. • The first chart shows that the Arora Report gave a signal to book profits and exit the leveraged or short positions.
The Johns Hopkins Coronavirus Resource Center reported 112,468 Covid-19 cases in the U.S. Saturday afternoon, with New York as the epicenter.
Constellation Brands makes Corona beer, Woodbridge wines, and Svedka vodka. Those brands should be recession proof, but Constellation is actually underperforming other staples stocks.
Worrying technical indicators and continued uncertainty regarding the COVID-19 outbreak will make this equities rally short lived, according to Mark Newton.
After another gutting start to the week for the stock market, Jani Ziedins, the investor behind the Cracked Market blog, delivered an optimistic take of what ultimately lies ahead. “While prices could fall even further over the next few days and weeks, 12 months from now,” he wrote on Monday, “no one will regret buying stocks at the lowest levels since 2016.” Clearly, there were no regrets for any dip-buyers Tuesday, with the Dow Jones Industrial Average (DJIA)closing up 2,113 points.
The scale of job losses is likely to hit unprecedented levels in the coming weeks and months as business activity in cities, municipalities and states are brought to a sudden halt in an attempt to lessen the spread of the COVID-19 pandemic.
U.S. stocks ended sharply lower Friday, failing to get a lasting lift from approval by Congress of a $2 trillion economic stimulus package to counter the effects of the coronavirus pandemic, but equities booked double-digit weekly gains to take back a chunk of losses seen this month.
Hedge-fund manager David Tepper says there is nothing wrong with “nibbling” at stocks that have experienced a brutal selloff in the past month, amid growing fears centered on the economic impact of the coronavirus pandemic.
Bill Gates told Vox Media during an interview that “it’s very irresponsible for somebody to suggest that we can have the best of both worlds,” referring to mitigating the impact of the deadly pathogen on human lives and keeping the economy whirring normally.
Treasury Secretary Steven Mnuchin said Sunday the Fed will play a key role in lending funds to businesses damaged by the pullback in activity caused by the coronavirus.
Intel Corp. seems better positioned than peers to weather the challenges of COVID-19, according to a Bernstein analyst, and that could be reason enough to look past the company’s “structural issues.”
The Hawaiian sense of Ohana, along with its history of epidemics, has prepared it to deal with Covid-19—no matter the costs to its economy.
John Rogers, chairman of Ariel Investments, cited Sir John Templeton, urging investors to take advantage of the stock market’s recent plunge.
Small businesses will have access to $350 billion in forgivable loans, but they have to meet certain requirements.
One strategist at JP Morgan says this week’s U.S. stock market rally may be less driven by economic and political fundamentals than market pundits would allow.
Company executives have been heavily buying all the areas that will supposedly get hit the hardest by coronavirus and COVID-19.
The stock market’s historic bounce on Tuesday may signal a near-term low is in process, but history reminds that big rebounds are often followed by new lows, notes one chart watcher.
Investors have spent the past couple of weeks in a “sell everything” mind set. It was the third straight week of record highs, each one nearly doubling the figure of the week before: from $87.6 billion the week of March 11 to $148 billion the following, and finally $258.9 billion in the period ending March 25. “Investors continue to take money out of play in record numbers,” Refinitiv Lipper noted in a release, “as the economic impact of the coronavirus continued to wreak havoc on investing.”
The Dow Jones Industrial Average finished Friday's session down more than 4%. This marks a reversal from a three-day winning streak where major indices gained more than 20% from Monday's close.So has the market reached a bottom during the coronavirus pandemic? Or is there more pain ahead? Here's what multiple pros are saying.Cooperman Says He's 'Uniformed Optimistic'The history behind stock market collapses and recessions suggest the stock market has reached a bottom near current levels, billionaire investor Leon Cooperman said Friday on CNBC's "Squawk Box."The stats show that during a bear market, stocks fall on average 25% from their highs and the decline lasts around one year, he said, adding that GDP contracts around 2% and earnings fall 15% to 20%.Markets bottom out three months before a recession ends, Cooperman said.Cooperman said he has a "uniformed optimistic" view and is ready to declare the bottom of the S&P 500 index at 2,187. The world is ultra-focused on solving the coronavirus, and a solution is likely to come "quicker than most people think," he said.But if the economic shutdown extends beyond April, Cooperman said he will be "less optimistic."Brown: No Bottom Until Coronavirus Peaks The one major precondition to usher in a stock market rebound is the peak of the coronavirus spread, Ritholtz Wealth Management CEO and CNBC contributor Josh Brown said Friday on "Halftime Report." The rate of infections needs to decelerate in key hotspots like New York City and Italy before assuming there is upside moving forward, he said.The three days of gains this week are a reversal from "very oversold conditions," as the number of stocks at a 10-day low improved from more than 95 last week to now zero, Brown said.Despite the record-shattering rebound, only 2.8% of S&P 500 stocks are above their 50-day average, he said.Purves: 'Jim Cramer Camp'Jim Cramer has said on several occasions over the past few days that any market rebound needs to be viewed with a high degree of skepticism.Michael Purves of Tallbacken Capital Advisors said on CNBC's "Worldwide Exchange" that his opinion falls within the "Jim Cramer camp" of doubt.Specifically, it's difficult to cheer a 15% rally over a three-day period as opposed to a more consistent six-day rebound, he said.The Volatility Index closed at 60 on Thursday, which is too high, as the sustainability of a rally would be more believable if the "fear index" was near 35, Purves said.The math behind the index suggests the market is pricing in an average move of 4% over the next six weeks, and many of those will be down days, he said.It's "inevitable" that the market will retest recent lows and it will "quite possibly" make new lows, he said.Related Links:US Surpasses China And Italy In Number Of Infected With COVID-19Think Well, Think Different: How Will COVID-19 Disrupt The Establishment?See more from Benzinga * Bernanke On How Coronavirus Differs From The 2008 Economic Crisis * BTIG's Emanuel Says Stocks Risk 1987's 40% Downside Scenario If Senate Doesn't Act * El-Erian Says Our Economic Situation Has Reached 'Critical Mass'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares are more likely to come back gradually, as they did after financial crisis. In fact, the lows could be retested, says a top technical analyst.