Update: The Dow soared to over 1200 points by the end of the day on the hopes that the Central banks will act to shelter the global economy from the coronavirus.
Efforts were made last night last night on the futures, but premarket stock trading saw swings of 1100 points. Today, the market is soaring.
Perhaps people are beginning to realize the coronavirus is not the worst flu we’ve seen — at least not yet. We lost two people to Covid-19 so far, and not to minimize that, but we’ve lost thousands to the flu this season and no one worries about them.
As of noon, the Dow was up over 767, the Nasdaq up over 195, and the S&P was up over 66. It has been a steady rise so far.
The Dow tumbled 3500 points last week over coronavirus fears, largely ginned up the evil media.
Co-Diagnostics soared after announcing plans to provide coronavirus test kits to U.S. labs.
Goods are up suggesting people were hoarding over the coronavirus scare.
Apple shares gained after Oppenheimer said the company’s “products and services will prove more resilient than competitive products in uncertain times” and upgraded shares to “outperform.”
Airlines are down and suffering over decreased travel. Gaming and cruise lines were down. European markets are mixed.
China’s factories are hurting but most believe the Chinese will cushion it with a stimulus.
Markets rallied across Asia as China’s Shanghai Composite surged 3.2 percent, Japan’s Nikkei jumped 1 percent and Hong Kong’s Hang Seng added 0.6 percent.
Signs indicate if the virus doesn’t become disastrous, the market is healthy, which would make a lot of Democrats very depressed.