The Briefing Room
General Category => Economy/Business => Topic started by: catfish1957 on March 16, 2020, 04:42:34 am
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15 Mar 2020 11:15 CDT
Fed announces interest rate cuts to 0% to counter Coronivirus impact.
DJIA Futures- Down 1041 , -4.5%
S & P 500 Futures- Down 128, -4.7%
NASDAQ Futures- Down 359, - 4.5%
Circuit Breaker limits @ opening
Gold $1545/oz, up 2%
WTI- $31.21/bbl
Pacific Rim Trading
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Nikkei Down 0.2%
VIX Futures- 57
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SPX and VIX will only trade electronically today - no open outcry. Bid/ask spreads expected to widen.
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16 Mar 2020 06:50 CDT Update
DJIA Futures- Down -8.4%
S & P 500 Futures- Down -5.2%
NASDAQ Futures- Down - 6.6%
Circuit Breaker limits @ opening
Gold $1462/oz, down 2.6%
WTI- $29.35/bbl
Pacific Rim Trading
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Nikkei Down 2.2%
HangSeng Down 4.0%
AAO Down 9.5%
Europe Trading
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FTSE- Down 6.4%
CAC - Down 8.9%
DAX- Down 7.6%
VIX Futures- 57 (?)
With no good news on the horizon, I still see downward pressure on markets. Best news would be something positive about a vaccine, or if COVID-19 cases start showing some statistical subsidence.
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It’s all going down, down, down.... :facepalm: :facepalm2:
888cryingkitty
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16 Mar 2020 08:50 CDT Update
DJIA - Down 11.8% @ 20,456
S & P 500 Down 10.1% @ 2438
NASDAQ Down - 11.5% @6966
Dropping rapidly.
Oil- $28.37/bbl
Gold - $1488/oz
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Stocks plummet after Fed zeros-out interest rates
Stocks plunged Monday morning in the wake of the Federal Reserve’s drastic Sunday action to protect the economy and stabilize financial markets upended by the coronavirus pandemic.
The Dow Jones Industrial Average sunk 2,442 points, falling more than 10 percent shortly before 10 a.m Monday. The S&P 500 fell 9.8 percent, triggering an automatic 15-minute pause in trading that occurs whenever the index falls at least 7 percent after the opening bell, and the Nasdaq composite sunk 9.6 percent.
more
https://thehill.com/policy/finance/487760-stocks-plummet-after-fed-zeros-out-interest-rates
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It’s all going down, down, down.... :facepalm: :facepalm2:
888cryingkitty
Was really hoping for some stability, to feel for a bottom. Not sure when the bear gets off our chest.
Markets up a couple of percent in the past 15 minutes.
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I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.
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I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.
VIX @75 :thud:
(https://i.ytimg.com/vi/qbfyG8m7ZC8/hqdefault.jpg)
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I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.
:0001:
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I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.
Not yet. I just boosted my 401(k) contribution, but it won't kick in until April 1.
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I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.
:amen:
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Well, listened to Beck this a.m. Banks are borrowing billions of dollars to cover cash -- now it is into the trillions. That's not a good sign as they are getting loans from the feds in order to cover the money that they are supposed to have to cover deposits.
Our 30 year treasury's were on sale -- NO other country would purchase them. None. Zero. Our debt is such that nobody thinks that the U.S. is a good investment.
As for the market -- I don't think we've seen lows. Especially as it looks like we could be heading into a recession if not a depression.
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Market is down over 1600 pts. Futures are down 1400 pts. Right now the market is down 6% since opening -- and about 4 more hours to trade.
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I don't know if I've ever seen this in my life - option calls jumping in price with the market plunging - because the VIX is rising so fast.
The VIX has I believed topped it's all time high set after 9-11.
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The market would be doing better had the FED not panicked yesterday.
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I don't know if I've ever seen this in my life - option calls jumping in price with the market plunging - because the VIX is rising so fast.
The VIX has I believed topped it's all time high set after 9-11.
All because of a seasonal flu bug.
IMO.
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I don't know if I've ever seen this in my life - option calls jumping in price with the market plunging - because the VIX is rising so fast.
The VIX has I believed topped it's all time high set after 9-11.
Look at the bright side... If we all die from this then we won't need this retirement money anyway. :laugh:
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Trump during today's press conference stated that we maybe headed into a recession. There is nothing positive to promote an uptick. Market is hovering around 20,000.
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All because of a seasonal flu bug.
IMO.
The coronavirus is NOT a seasonal flu bug. It is NOT a flu virus. It is a coronavirus and acts more like pneumonia and is more fatal.
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16 Mar 2020 11:00 p.m. CDT Update
10:30 p.m update
Terrible and historic day. Fed's decison to drop rates to zero basically was the Little Dutch boy sticking his finger in the dike witholding a tsumani.
Here are some crash / bear market comparisons in DJIA U.S. History-
* Great Depression -Late October 1929- July 1932 - 84% loss
* Stagflation extended crash '65-'82- 72% loss
* October 1987- 26% loss
* '00-'01 Dot Com crash- 33% loss. Tech heavy NASDAQ lost 67%
* 08-'09 Crash- 47%
* February - March 2020 Crash thus far- 32% Loss
DJIA - Down 12.9% @ 20,188. futures up 3.0%
S & P 500 Down 12.0% @ 2386. futures up 3.1%
NASDAQ Down - 12.3% @6904. futures up 3.4%
Oil- $29.65/bbl
Gold - $1495/oz
AP Rim markets open
Hang Seng- +0.4%
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Believe it or not, S+P futures were limit up on the overnite. Are just below that right now.
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Believe it or not, S+P futures were limit up on the overnite. Are just below that right now.
With a day where most of the day the VIX was over 80? We all need neck guards from all the market movement whiplash.
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With a day where most of the day the VIX was over 80? We all need neck guards from all the market movement whiplash.
Maybe people are starting to see that there is indeed an end to this craziness.
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Maybe people are starting to see that there is indeed an end to this craziness.
Gov. Cuomo gave a presser this morning doing everything he could to lower consumer confidence.