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Author Topic: 23 Mar 2020- Stock and Financial Markets Discussion Thread  (Read 800 times)

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Offline catfish1957

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23 Mar 2020- Stock and Financial Markets Discussion Thread
« on: March 22, 2020, 10:51:29 pm »
22 Mar 2020 - 5:45 p.m. CDT

First the bad news....

DJIA Futures-  Down 5%
S & P Futures- Down 5%
NASDAQ Futures- Dow 4.9%

Wanted to share some good news too though...

WTI-  $21.55/bbl. up 8.62% since Friday's close
Gold- $1489/oz.  Not much change since Friday.

I posted this last week from Moodys but I think worth another look for those who missed.

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Offline cato potatoe

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #1 on: March 23, 2020, 12:31:42 am »
The equity declines make perfect sense.  Every day this catastrophic shutdown continues, the less companies are worth.  Before long, the industries on the bottom right will come under pressure.
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Online Free Vulcan

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #2 on: March 23, 2020, 12:36:02 am »
S+P Index futures went limit down after the open, bounced a bit after the Asian market open, then are flirting with limit down again.

Oil banged down a couple of bucks and is trying to rally.

I don't see alot underneath this market. Tommorow could be just a free float.
« Last Edit: March 23, 2020, 12:37:54 am by Free Vulcan »
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Online libertybele

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #3 on: March 23, 2020, 01:01:17 am »
There's not much good news out there to warrant any kind of recovery.
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Online Free Vulcan

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #4 on: March 23, 2020, 01:10:26 am »
Quote from: libertybele on March 23, 2020, 01:01:17 am
There's not much good news out there to warrant any kind of recovery.

No there's not. Tommorow has the potential to be another Black Monday '87 if people panic, and I think they are gonna get squeezed hard.
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Offline catfish1957

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #5 on: March 23, 2020, 01:32:32 am »
Quote from: Free Vulcan on March 23, 2020, 01:10:26 am
No there's not. Tommorow has the potential to be another Black Monday '87 if people panic, and I think they are gonna get squeezed hard.

From the FWIW Feeling the Bottom Department..... 

From today's WSJ.  Analyst estimate based on S&P 500 metric

Credit Suisse- Abt. 2200 (Abt. 5% additonal loss based on Friday's close)
Goldman Sachs- Abt. 1980. (Abt. 14% additional loss based on Friday's close)
BOA- Abt. 1760 (Abt. 25% additonal loss based on Friday's close)

https://www.wsj.com/articles/the-worst-of-the-global-selloff-isnt-here-yet-banks-and-investors-warn-11584877018
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Online Free Vulcan

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #6 on: March 23, 2020, 01:38:57 am »
Quote from: catfish1957 on March 23, 2020, 01:32:32 am
From the FWIW Feeling the Bottom Department..... 

From today's WSJ.  Analyst estimate based on S&P 500 metric

Credit Suisse- Abt. 2200 (Abt. 5% additonal loss based on Friday's close)
Goldman Sachs- Abt. 1980. (Abt. 14% additional loss based on Friday's close)
BOA- Abt. 1760 (Abt. 25% additonal loss based on Friday's close)

https://www.wsj.com/articles/the-worst-of-the-global-selloff-isnt-here-yet-banks-and-investors-warn-11584877018

I know the next bit of serious support is about 1800, so I could definitely see somewhere between BOA and Goldman Sachs being right.

Oil is rallying back now fairly decent, but the S&P futures are just scudding right above limit down.
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Offline catfish1957

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #7 on: March 23, 2020, 05:06:13 am »
23 Mar 2020 MN CDT update

Market futures drop based on expected congressional inaction on COVID-19 bill.

DJIA Futures-  Down 4.0%
S & P Futures- Down 3.8%
NASDAQ Futures- Dow 3.1%

Asia Pacific Trading
================

Nikkei-  Up 1.9%


WTI-  $22.80/bbl.
Gold- $1496/oz. 
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Offline Gefn

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #8 on: March 23, 2020, 10:44:25 am »
I’m not going to look today. It’s all turning to poo.
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Offline catfish1957

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #9 on: March 23, 2020, 01:16:28 pm »
23 Mar 2020 08:00 am CDT update

Futures rise during the night, due to additonial bond loosening

DJIA Futures-  Up 2.7%
S & P Futures- Up 2.1%
NASDAQ Futures- Up 1.9%

Asia Pacific Trading Trading close
================

Nikkei-  Up 2.0%
Hang Seng- Down 4.9%
ASX- Down 4.5%

Europe
=========
FTSE - Down 1.2%
DAX- Up 0.3%
CAC- Down 0.1%



WTI-  $22.93/bbl.  Nice rally...   Up over 16% after Friday's bloodbath
Gold- $1517/oz. On an upward trajectory of late.

And maybe historic and underreported today..... or  Unless my ticker is in error, 3 month treasuries are now at ZERO percent.  Do  not remember that in my lifetime.
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Online libertybele

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #10 on: March 23, 2020, 01:53:42 pm »
Fed, saying aggressive action is needed, starts unlimited QE

Central bank also sets out $300 billion in new lending programs to help all corners of financial market

https://www.marketwatch.com/story/fed-saying-aggressive-action-is-needed-starts-unlimited-qe-2020-03-23?mod=mw_latestnews&mod=home-page
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Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Online libertybele

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #11 on: March 23, 2020, 01:57:29 pm »
Quote from: Gefn on March 23, 2020, 10:44:25 am
I’m not going to look today. It’s all turning to poo.

With a report that unemployment rates could reach 30%, and cases of the Chinese virus continuing to increase, the markets will continue to go down.  Not much good news out there.

Also ... the stimulus package is being stalled.
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Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Online mystery-ak

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #12 on: March 23, 2020, 02:00:18 pm »
Stock futures leap as Fed announces major interventions to free up credit and money
https://www.washingtonexaminer.com/news/stock-futures-leap-as-fed-announces-major-interventions-to-free-up-credit-and-money
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Offline catfish1957

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #13 on: March 23, 2020, 02:14:50 pm »
3 Mar 2020 09:00 am CDT update

Markets down sharply @opening, but has rebounded the past 20 minutes or so.

DJIA - Down 1.4%
S & P - Down 1.4%
NASDAQ - Up 0.1%

Europe Markets
=========
FTSE - Down 3.2%
DAX- Down 2.1%
CAC- Down 1.9%

WTI-  $22.81/bbl. 
Gold- $1525/oz.
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Online mystery-ak

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #14 on: March 23, 2020, 02:49:46 pm »
Stocks sink after Fed makes bold move to support economy
https://www.foxbusiness.com/markets/us-stocks-march-23-2020

Dow down over 300 right now
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Offline catfish1957

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #15 on: March 23, 2020, 04:02:36 pm »
3 Mar 2020 11:00 am CDT update

Downward again in equity markets this late morning.

DJIA - Down 4.2%
S & P - Down 4.0%
NASDAQ - Down 3.0%%

Europe Markets
=========
FTSE - Down 4.0%
DAX- Down 3.9%
CAC- Down 3.9%

WTI-  $21.99/bbl. 
Gold- $1542/oz.   Slow and steady increases generally the past 24 hr.
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Offline Fishrrman

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #16 on: March 24, 2020, 12:04:07 am »
Today could have been much worse.
Dow down a little shy of 600.

It's not just the airlines hurting.
Amtrak lost so much ridership, they've cut back service between Boston/New York/DC and NY-Albany drastically. Cut out Philly-Harrisburg- Pittsburgh service altogether. Other places in the country as well.

Rather than furlough all the regular job holders, they worked out an agreement with the unions to put everyone onto the "extra boards" (work on call), and thus protect their guarantees (5 days' pay so long as you stay "marked up" and take every call).
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Offline IsailedawayfromFR

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Re: 23 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #17 on: March 24, 2020, 02:21:15 am »
Quote from: libertybele on March 23, 2020, 01:57:29 pm
With a report that unemployment rates could reach 30%, and cases of the Chinese virus continuing to increase, the markets will continue to go down.  Not much good news out there.

Also ... the stimulus package is being stalled.
Just have to look.  https://www.nytimes.com/2020/03/22/business/coronavirus-hiring-jobs.html

And my son-in-law works for a gaming company and their business has doubled, so much their demand has overtaken the manufacturing center.

A guy working at a school, travel(airline, hotel) or a restaurant really needs to look elsewhere.
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