Stocks surged again Thursday after Senate passage of the coronavirus relief bill. The S&P 500 rose 6.2%, bringing its three-day rally to 17.6%. The Dow industrials have risen an even steeper 21.3% since Monday.
Many on Wall Street say they don’t think stocks have hit bottom yet, but optimism rose after the White House and Senate leaders announced an agreement on the aid bill early Wednesday. A vote had been expected in the Senate by the end of the day, but then some lawmakers balked at the proposed bill.
Tuesday was the Dow’s best day since 1933 as Congress nears a deal on aid. The Dow burst 11.4% higher, while the more closely followed S&P 500 index leapt 9.4% as a wave of buying around the world interrupted what has been a brutal month of nearly nonstop selling.
With Monday’s losses, the stock market has lost more than a third of its value since its record last month, as more businesses shut down in hopes of slowing the spread of the coronavirus. Economists increasingly say a recession seems inevitable, analysts are slashing their forecasts for upcoming corporate profits and no one can say for sure how deep it will be or how long it will last.
Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of the outbreak.
Stocks rose Thursday, reflecting cautious optimism among investors that emergency action by the U.S. government and central banks will cushion the global economy from a looming recession caused by the coronavirus pandemic.
Stocks fell Wednesday as investors dashed for cash amid recession fears. Markets have been incredibly volatile for weeks as Wall Street and the White House acknowledge the rising likelihood that the pandemic will cause a recession.
Stocks jumped Tuesday after President Trump promises to ‘go big’ on coronavirus aid. Besides the White House’s proposal, which could approach $1 trillion, the Federal Reserve also announced its latest emergency move to get markets running more smoothly.
The plunge came even though the Federal Reserve rushed to announce a new round of emergency actions before markets opened for trading Monday. The moves are aimed at propping up the economy and getting financial markets running smoothly again, but they may have also raised fears even further. Investors are also waiting for the White House and Congress to offer more aid to an economy that’s increasingly shutting down by the hour.
Stocks surged Friday on new virus measures. The turnaround wrapped up a week of brutal losses on Wall Street amid heightened fears that the virus outbreak will lead to a global recession.
The S&P 500 plummeted 9.5%, for a total drop of 26.7% from its all-time high, set just last month. That puts it way past the 20% threshold for a bear market, officially ending Wall Street’s unprecedented bull-market run of nearly 11 years. The Dow Jones Industrial Average sank 10% for its worst day since its nearly 23% drop on Oct. 19, 1987.
With Wall Street already on edge about the economic damage coming from the virus outbreak, stocks dove even lower Wednesday after global health officials declared the outbreak a pandemic.
The Dow surged 4.9% on Tuesday, another wild day, on hopes for virus aid. The moves reflected the mood of a market just as preoccupied with the virus as the rest of the world. Since U.S. stocks set their record high just a few weeks ago, traders have crossed over from dismissing the economic pain created by COVID-19 — thinking it’s similar to the flu and could stay mostly contained in China — to being in thrall to it — worrying that it may cause a worldwide recession.
The drop on Wall Street Monday was so sharp that it triggered the first automatic halt in trading in more than two decades. European markets likewise registered their heaviest losses since the darkest days of the 2008 meltdown and are now in a bear market.
The most violent drops came from the oil markets, where prices cratered more than 20%. But moves in stocks and bond yields were nearly as breathtaking. In the United States, the S&P 500 plunged 7% in the first few minutes of trading, and losses were so sharp that trading was halted.
After skidding sharply through the day Friday as fear pounded markets, steep drops for stocks and bond yields suddenly eased up in the last hour of trading amid hints from Federal Reserve officials that they may offer more support to the economy.
Major U.S. indexes lost roughly 3.5% Thursday, and Treasury yields touched more record lows in their latest yo-yo move. The slide nearly wiped out the surge stocks had ridden just a day earlier, which came in part on hopes that moves by authorities around the world could cushion the economic fallout.
Stocks rose sharply from the get-go Tuesday, led by big gains for health care stocks after Joe Biden solidified his contender status for the Democratic presidential nomination. Investors see him as a more business-friendly alternative to Bernie Sanders.
Stocks fell sharply Tuesday after an emergency interest-rate cut by the Federal Reserve. While the cut gave some investors exactly what they had been asking for, Federal Reserve Chairman Jerome Powell acknowledged that the ultimate solution to the virus challenge will have to come from health experts and others, not central banks.
Technology companies led a broad stock market gain Monday, which gave the Dow its biggest-ever point gain and biggest percentage increase since March 2009. The S&P 500 index jumped 4.6%, its best day since December 2018.
The market clawed back much of its intraday losses in the last 15 minutes of trading Friday as some buyers emerged, keeping the indexes from another steep plunge.
This week’s stock market rout continued Thursday as coronavirus worries increased. The S&P 500 has now plunged 12% from the all-time high it set just a week ago. That puts the index in what market watchers call a “correction,” which analysts have said was long overdue in this bull market, which is the longest in history.
Once again, stocks slid on Wall Street Wednesday. The benchmark S&P 500 fell for the fifth straight day after swinging between a 0.6% loss and 1.7% gain. Smaller company stocks bore the brunt of the selling. The bond market continued to flash warning signs as long-term Treasury yields fell further below short-term yields.
Stocks sank again Tuesday. The latest wave of selling came as more companies, including United Airlines and Mastercard, warned that the growing virus outbreak will hurt their finances, and more cases were reported in Europe and the Middle East, far outside the epicenter in China.
Technology stocks accounted for much of the broad market slide, which wiped out all of the Dow’s and S&P 500’s gains for the year. The Nasdaq closed down 355.31 points, or 3.7%, to 9,221.28 — it’s biggest loss since December 2018.
Media stocks and all major U.S. stock market indices were slammed Monday morning as coronavirus concerns heightened. Walt Disney was down 3.8% to $133.71, while ViacomCBS lost 4% to $27.13 and Sinclair Broadcast Group fell 5% to $27.47. In digital media, Google gave up 3.7% to $1,430, while Facebook was off 3.6% to $202.64, Amazon was down 3.5% to $2,022, Netflix sank 3.4% to $367.48, Apple was off 3% to $303.53, and Roku went backwards 3.6% to $115.09.
On Friday, new data showing manufacturing and business activity suddenly slowed this month stoked investors’ anxiety over the outbreak’s impact on company profits. New reports that infections are spreading added to traders’ jitters.
The market had started the day off higher following another round of stronger-than-expected reports on the U.S. economy, but it slumped suddenly in the late morning.
Technology stocks helped lead the market higher on Wednesday, as they’ve been doing for years, and Apple rallied to recover most of its loss from the prior day. It dropped Tuesday after warning that revenue this quarter would fall short of forecasts due to the viral outbreak centered in China.
Stocks fell Tuesday. Banks and technology stocks accounted for most of the decline. The Nasdaq eked out a tiny gain that was good enough to nudge it to another record high.
s Wall Street approaches the 20th anniversary of the piercing of the dot-com bubble, today’s decade-old rally led by a few small players shows some similarities that cautious investors are keeping an eye on.
U.S. stocks posted small gains Friday, putting major indexes up for the week. Gains in the technology, real estate and utilities sectors outweighed losses in energy and industrial stocks, and in consumer-centric companies. Trading was mostly subdued and cautious following China’s report Thursday of a surge in cases of a new virus that raised fresh concerns about global economic growth.
U.S. stocks edged mostly lower Thursday after cases of the China coronavirus spiked. Hopes that the spread of the virus had peaked were dashed Thursday, when China reported a sharp rise in cases and deaths after the hardest-hit province of Hubei took a new approach to classifying and diagnosing the virus.
Solid earnings reports sent stock indexes higher Wednesday. Technology stocks powered much of the rally as investors focused on the latest batch of mostly solid company earnings reports. The latest gains came as worries about the economic impact of the virus outbreak that originated in China continued to subside.
U.S. stocks extended gains on Tuesday as investors weighed another batch of mostly solid company earnings reports. Sprint soared after a federal judge cleared a major obstacle to the company being acquired by T-Mobile. Microsoft and Facebook slumped after federal regulators announced they’ve ramped up an antitrust probe into the two companies as well as Amazon, Apple and Google parent Alphabet.
Technology companies and retailers led U.S. stocks higher Monday. Traders also shifted money into U.S. government bonds, sending yields lower, and they bid up the price of gold. Both can signal uneasiness in the market.
On Friday, the S&P 500 slipped for the first time this week as momentum stalled. The pullback, which followed a sell-off in markets around the world, snapped a four-day winning streak for the major U.S. stock indexes. Even so, the benchmark S&P 500 notched its biggest weekly gain since June.
Stocks posted their fourth gain in a row Thursday, extending a weeklong rally. The latest gains came as investors assessed more company earnings reports. China’s decision to cut tariffs on $75 billion of U.S. imports also helped keep investors in a buying mood.
U.S. stocks extended this week’s rally on Wednesday. The latest gains came as another batch of solid corporate earnings reports and encouraging economic data overshadowed concerns about the potential economic fallout from the virus outbreak that originated in China.
Stocks rose on Wall Street Monday despite worries over coronavirus virus. Chinese stocks tumbled nearly 8% after investors there got a chance to catch up to losses that already swept through other markets.