Author Topic: Stocks Tumble as Infections Rise and Second Lockdown Begins  (Read 451 times)

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Online mystery-ak

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John Carney 26 Jun 2020

Stocks plunged on Friday as infections rose in several states, the White House relaunched its coronavirus taskforce, and Texas pulled back on the reins of its reopening.

The Dow Jones Industrial Average fell 730 points, 2.84 percent, to 25015.55. The S&P 500 declined 2.42 percent. The Nasdaq Composite dropped 2.59 percent.

The yield on ten-year Treasuries, often viewed as a safe haven for investor cash, dropped to 0.64 percent. Yields move down when bond prices move up.

All 11 sectors of the S&P were down. The worst performing sector was communication services, a tech heavy category that includes Facebook, Google parent Alphabet, and Netflix, which fell 4.49 percent. Financials declined 4.33 percent. The best performing sector was utilities, which dropped by 1.03 percent.

The only gainer among the Dow stocks was Cisco, which rose 2.41 percent. The biggest decline was Goldman Sachs, down 8.65 percent after the Federal Reserve said Thursday that big bank capital restrictions would be limited due to economic risks stemming from the pandemic.

more
https://www.breitbart.com/economy/2020/06/26/stocks-tumble-as-infections-rise-and-second-lockdown-begins/
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Online libertybele

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Re: Stocks Tumble as Infections Rise and Second Lockdown Begins
« Reply #1 on: June 27, 2020, 12:49:12 am »
I think the headline is misleading - we aren't in a 2nd lockdown -- some states have gone back to parts of Phase I -- bars have been closed -- however, restaurants can (so far) still serve drinks at the table; tables still have to be 6ft. apart and social distancing adhered to. They've gone back to some restrictions --  but not all.

There is no doubt that the amount of people unemployed is higher than before COVID hit, and the economy took a beating.  The country plunged into even more debt.

I think watching the police departments becoming dismantled and our monuments toppled by anarchists without any push back is more of a reason to sell investments than COVID.  Even IF businesses are open -- who in the heck wants to go to a restaurant or a store near an autonomous zone or an area with no police protection and incivility?

What's the good news out there right now to warrant buying into the market or jumping back in?  IMO things are more unstable now than they were when COVID first hit.
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Online libertybele

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Re: Stocks Tumble as Infections Rise and Second Lockdown Begins
« Reply #2 on: June 27, 2020, 12:50:32 am »
John Carney 26 Jun 2020

Stocks plunged on Friday as infections rose in several states, the White House relaunched its coronavirus taskforce, and Texas pulled back on the reins of its reopening.

The Dow Jones Industrial Average fell 730 points, 2.84 percent, to 25015.55. The S&P 500 declined 2.42 percent. The Nasdaq Composite dropped 2.59 percent.

The yield on ten-year Treasuries, often viewed as a safe haven for investor cash, dropped to 0.64 percent. Yields move down when bond prices move up.

All 11 sectors of the S&P were down. The worst performing sector was communication services, a tech heavy category that includes Facebook, Google parent Alphabet, and Netflix, which fell 4.49 percent. Financials declined 4.33 percent. The best performing sector was utilities, which dropped by 1.03 percent.

The only gainer among the Dow stocks was Cisco, which rose 2.41 percent. The biggest decline was Goldman Sachs, down 8.65 percent after the Federal Reserve said Thursday that big bank capital restrictions would be limited due to economic risks stemming from the pandemic.

more
https://www.breitbart.com/economy/2020/06/26/stocks-tumble-as-infections-rise-and-second-lockdown-begins/

Futures are down over 600 pts .... but people have the weekend to think about things.  We'll see how the weekend unfolds.
I Believe in the United States of America as a Government of the people, by the people, for the people; whose just powers are derived from the consent of the governed; a democracy in a republic; a sovereign nation of many sovereign states; a perfect union one and inseparable; established upon those principles of freedom, equality, justice and humanity for which American patriots sacrificed their lives and fortunes.  I therefore believe it is my duty to my country to love it; to support its Constitution; to obey its laws to respect its flag; and to defend it against all enemies.