|Day's Range||21,469.27 - 22,327.57|
|52 Week Range||18,213.65 - 29,568.57|
Stocks futures kicked off the overnight session lower on Sunday as market participants continued tracking the spread of the coronavirus outbreak and the daily life disruptions it has invoked around the world.
A stock market rally attempt is underway in the midst of the coronavirus crisis. This is what investors should do now.
At this time, we stand by our forecast for a minimum 50% to 61.8% correction of the entire rally from 2009 to 2020. That’s the value area that will start bringing in the real buyers and not just the reactionary buyers.
Stock-index futures fall Sunday, pointing to a lower start for Wall Street on Monday, as the number of coronavirus cases and deaths continues to rise and investors brace for data in the week ahead expected to underline the economic toll of the pandemic.
Stock futures slid 2% shortly after they opened Sunday night, suggesting wild trading would continue when markets open Monday. Major U.S. stock market indices closed lower Friday, snapping a three-day rally earlier in the week that included the Dow Jones Industrial Average’s best day since 1933. During a press conference Sunday night, President Donald Trump said he was extending social distancing guidelines through April 30.
U.S. stock futures opened for trading Sunday evening, pointing to a lower open on Monday morning. Shortly after the futures market's 6 p.m. ET open, the S&P 500 was down about 1.8% and the Dow Jones Industrial Average was down 2.2%.Volatility ContinuesThe S&P 500 closed Friday's session at 2,541.47 and the Dow closed down more than 4% at 21,636.78, marking a reversal from a three-day winning streak where major indices gained more than 20% from last Monday's close.That three-day rally included the Dow's best single-day percentage gain since 1933, followed by the Labor Department reporting a record 3.28 million weekly unemployment benefit claims.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Trumps Extends Coronavirus Social Distancing GuidelinesDuring his daily press briefing Sunday evening, President Donald Trump extended coronavirus (COVID-19) social distancing guidelines to April 30 and sees the highest rate of coronavirus-related deaths occurring in two weeks.Just last week, Trump said he "would love to have the country opened up, and rarin' to go by Easter," which is April 12.Dr. Anthony Fauci, who many consider the top member of the White House's coronavirus task force, earlier Sunday gave CNN's Jake Tapper an update on the latest models. He said the U.S. could eventually see 100,000 deaths from the novel coronavirus and he expects the U.S. to have over "millions of cases.""Whenever the models come in, they give a worst-case scenario and a best-case scenario," Fauci said. "Generally, the reality is somewhere in the middle. I've never seen a model of the diseases that I've dealt with where the worst case actually came out. They always overshoot."Followning Trump's announcement, Fauci called the White House's move to extend the deadline to April 30 "a wise and prudent decision."Related Links:The 2008 Playbook Suggests We Haven't Seen The Market Bottom YetLeon Cooperman, Others Weigh In On Whether The Stock Market Has Hit BottomSee more from Benzinga * Bill Ackman Bet On Market Plummet, Turned M Into .6B * 'Dusting Off The Financial Crisis Playbook:' Dow Futures Point To Drop After Fed Announces Emergency Rate Cut * Federal Reserve Cuts Interest Rates To Zero For First Time Since Financial Crisis(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
U.S. stock-index futures remained lower after kicking off trade with sharp losses Sunday night as the number of COVID-19 cases continued to rise over the weekend and investors braced for data in the coming week that's expected to underline the economic toll of the pandemic. Futures on the Dow Jones Industrial Average were off 245 points, or 1.1%, while S&P 500 futures were down 1.1% and Nasdaq-100 futures shed 1%. The U.S. now has the largest number of cases worldwide at 124,763, according to data compiled by Johns Hopkins Whiting School of Engineering's Centers for Systems Science and Engineering. The U.S. death toll stands at 2,191. President Donald Trump, speaking Sunday evening at press briefing, said the death rate was likely to hit in two weeks and that the U.S. would be "well on its way to recovery" by early June.
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.
U.S. Covid-19 cases topped 124,000 early Sunday morning. It’s the highest total for any country by more than 30,000 cases. Federal, state, and local government officials are rapidly trying to increase testing and hospital capacity.
The $2 trillion stimulus package includes a $10 billion loan for the U.S. Postal Service. It’s a smart move because logistics—including the daily mail—are the life blood of any economy.
In perhaps the worst-timed vacation ever, I took seven commercial flights between March 16 and Wednesday. Things changed rapidly at airports and with my chosen airlines over the 10 days. It was a once-in-a-decade splurge, a trip to Hawaii after selling a house.
It’s a particularly busy week ahead. Economic data, Brexit negotiations, and updates on the coronavirus will continue to keep the markets on edge.
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.
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.
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.
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.
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.