Markets / Commentaries
Stock Market Today: March 30, 2020
William G. Ferguson | 03/30/2020
Investors return to the market today after another wild week of trading on Wall Street, which has now become more the norm than the exception. Since the last week of February, the swings in trading have been sharp and pronounced, with the bears holding the upper hand.
Markets / CommentariesStock Market Today: March 27, 2020
Harvey S. Katz, CFA | 03/27/2020
Wall Street strove for a so-called three-peat yesterday. Specifically, after weeks of steady and alarming losses, the stock market rallied strongly on Tuesday, largely on the promise of the pending $2 trillion fiscal stimulus program. Further progress on that bill then helped stocks advance modestly on Wednesday. Although yesterday got off to a shaky start, overall, it was the third straight advance for the market, and the biggest three-day climb since 1931. Now, the quest will be for a fourth straight day of gains, and on that count, the equity futures are pointing to a pullback to start the new session.
Markets / CommentariesStock Market Today: March 26, 2020
Harvey S. Katz, CFA | 03/26/2020
The stock market has certainly been making things interesting over the past month, and that clearly includes this week so far. To recap, stocks fell anew on Monday, even though the Federal Reserve made a major commitment to asset repurchases. Then, on Tuesday, indications out of the Senate that the much-touted $2 trillion fiscal stimulus package was nearing adoption sent the market surging. In all, the Dow Jones Industrial Average jumped 2,113 points on that expectation. The other indexes skyrocketed, as well.
Markets / CommentariesStock Market Today: March 25, 2020
Harvey S. Katz, CFA | 03/25/2020
Yesterday was the best day for stocks since 1933 in percentage terms, with the gain for the Dow Industrials of 2,113 being the largest ever. Moreover, the S&P 500 would tack on 210 points and the NASDAQ would jump 557 points. Stock gains were largely a result of the passage of a stimulus package. The bill came to fruition in the early hours of the morning. Still, as we look ahead to a new day and after yesterday's fireworks, the U.S. futures are pointing to a slightly lower start this morning, despite the stimulus package.
Markets / CommentariesStock Market Today: March 24, 2020
Mario Ferro | 03/24/2020
After closing out their worst week since 2008, stocks were down again Monday, as fear of the economic fallout from the Covid-19 pandemic tightened its grip on the markets. There was a slight respite early in the day, after the Federal Reserve announced its latest moves to support the economy.
Markets / CommentariesStock Market Today: March 23, 2020
William G. Ferguson | 03/23/2020
The U.S. and global equity markets remain under severe selling pressure. Before the bell, the equity futures have been highly volatile. S&P futures fell sharply in overnight trading, however, the futures reversed course this morning after the Federal Reserve issued new and extensive measures. The pandemic has pushed stocks from record high levels to bear market territory in a record time. Stay tuned and be safe.
Markets / CommentariesStock Market Today: March 20, 2020
Harvey S. Katz, CFA | 03/20/2020
The stock market, which has been in a steep descent in recent weeks as fears about the fast-spreading and deadly coronavirus have proliferated, saw a modest break from this frenetic activity yesterday. All told, the Dow would add 188 points on the day; the S&P 500 would tack on 11 points; and the NASDAQ would jump 161 points. Also positive was a big jump in oil prices on the session. However, after trading ended, the futures would fall back in after-hours trading, quickly losing about 400 Dow points. Now, in pre-market trading, the futures are pointing to higher opening.
Markets / CommentariesStock Market Today: March 19, 2020
Harvey S. Katz, CFA | 03/19/2020
Yesterday’s full-day selloff says that the Street is still under intense pressure from fears about COVID-19. The late buying says that there is the potential for a sizable comeback at any point as stocks are way oversold. Looking out to a new day and after some initial strength in the futures last night, these indicators again have turned negative, suggesting a weaker opening when trading resumes this morning.
Markets / CommentariesStock Market Today: March 18, 2020
Harvey S. Katz, CFA | 03/18/2020
After a slight early rise yesterday morning and a rapid, albeit modest dip, the stock market strengthened further as the morning progressed, so that as we hit the noon hour, the Dow Jones Industrial Average was up just over 1,000 points. That comeback, following a prior-session Dow plunge of 2,997 points, came after the President announced new stimulus measures. Prior to that late-morning surge, the Dow had dipped below 20,000 for the first time since February of 2017.