
Dow Jones Futures Climbs 150 Points amidst Bearish Stock Market
Investors are decidedly shunning risky assets and putting funds into growth stocks ahead of the proposed market stabilization era.
Investors are decidedly shunning risky assets and putting funds into growth stocks ahead of the proposed market stabilization era.
At the beginning of the week, Wall Street was quite optimistic being supported by the signs of strength in the service sector, however, now the performance of its key components shows a downtrend.
The global markets remain jittery as the total COVID-19 death count crosses the half-a-million mark. The WHO has warned of the latest acceleration in global access and called for new measures to combat this pandemic through public-private partnerships.
The U.S. economy is going through an unprecedented recession and a recovery will take time. However, Federal Reserve Chairman Jerome Powell is optimistic about it. Dow futures are up after his interview.
The luckiest company today is Gilead Sciences. After its announcement about the successful coronavirus treatment the company has found, its stock started growing. Right now, Gilead Sciences (GILD) stock is trading at $82.115, or 7.28% up.
Previously, the target range of the interest rate varied from 1% to 1.25%. Now the benchmark for both short-term lending for financial institutions and a peg to consumer rates will be targeted at 0% to 0.25%. Dow Futures lost 1,000 points.
Tuesday’s rally did not last long. Early on Wednesday, U.S. stock futures, including Dow, fell sharply. Tech stocks have also suffered.
The Dow Jones Futures dropped Monday morning. This comes are investors are bracing for more bad news about COVID-19.
At 7.30 p.m. EST, the U.S. stock market indexes were up, and futures started soaring. By the moment of writing, Dow futures have already gained around 400 points.
Dow Futures dropped 400 after a report of the first coronavirus case in Northern California, of unknown origin. The drop has come even after Donald Trump gave assurances to the investors that the virus is under control and there is no call for alarm.
Dow Futures started brightly on Wednesday morning but reversed course through the early hours. Investors are waiting for updates on the coronavirus infections around the world, especially in China, South Korea and Italy.
The Dow Jones futures plummeted quite terribly yesterday. However, today, it has gained almost 300 points on its way to recovery.
The impact of the coronavirus spread outside China is giving jitters to the entire financial markets as the average rate on the 30-year fixed mortgage has hit a low of 3.34% on Monday.
Dow Jones futures plunges 800 points as the market opened in the European session. Analysts are speaking about a future market recession with possibilities of a 25% crash in Dow futures, as the coronavirus fears are spreading.
Global markets across Europe and Asia have plunged severely on Monday as South Korea and Italy report several new affected cases of the coronavirus on Sunday. Analysts request investors to maintain caution at this stage.