Things have been moving up and down as the virus , oil and jobless information keeps coming out daily…
The American Fed has pumping money and buying into the financial markets and now the Europen Central Bank has joined…
We’ll see what tomorrow brings…
The interventions failed to quell the uncertainty, as stocks rocked back and forth. Investors are struggling to puzzle their way through the daily medical, financial and government briefs around the coronavirus.
“My biggest concern is nobody, not even the medical experts, have any clue to how long this gets worse before it gets any better, and what the magnitude of the economic decline is going to be,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “There is no question we are in a recession.”
The Dow held on to a nearly 190-point gain, just shy of 1 percent, to close at 20,087. A rollicking session on Wednesday had shaved more than 1,300 points off the blue-chip index, erasing nearly all Trump era gains and pushing the benchmark below 20,000 points for the first time in three years.
The Standard & Poor’s 500 index inched up 0.5 percent, to close around 2,409. Technology stocks — which had powered the market until the recent retreat — breathed some gains into the Nasdaq composite. It surged more than 2.3 percent. All three major U.S. indexes are in a bear market.
Most of the S&P sectors were positive, with consumer discretionary, energy and technology among the winners. Energy got a boost from a record jump in oil prices. The Dow’s blue chips were led by McDonald’s, Walt Disney and Goldman Sachs. Walgreens Boots Alliance and Coca-Cola fell 8 percent and 7 percent. Microsoft and Google-parent Alphabet helped fuel the Nasdaq as technology shares have been one of the few corners of good news lately….