BREAKING: Dow futures opening gain of more than 900 points

[tacobell fan]

 

U.S. stock futures were volatile in early morning trading, after the major averages on Thursday suffered their worst session since the “Black Monday” market crash in 1987.

As of 7:08 a.m. ET Friday, Dow futures implied an opening gain of more than 900 points. S&P 500 futures and Nasdaq-100 futures also turned around, pointing to solid opening gains.

Futures got a boost in part after House Speaker Nancy Pelosi said U.S. lawmakers and the White House were close to a deal on economic relief amid the coronavirus outbreak. “We’ve resolved most of our differences,” Pelosi told reporters Thursday evening.

Earlier in after-hours trading, Dow futures had indicated an opening loss of 700 points.

The overnight action followed the official end of the record-long bull market run. The S&P 500 plummeted 9.5% in its worst day in more than three decades Thursday, joining the Dow in a bear market, or more than 20% from its recent peak. The Dow also suffered its worst point drop ever and the biggest percentage decline since 1987.

The market’s historic drop on Thursday indicated that investors believe the government’s fiscal plans and the Federal Reserve’s ramped-up funding actions wouldn’t be sufficient to offset the economic impact from the coronavirus.

“I would advocate for pushing money into the hands of companies right now, and into the hands of individuals … and individual consumers because that is really the only thing … that is gonna help at this point,” David Riedel, president and founder of Riedel Research Group, told CNBC’s “Squawk Box Asia” on Friday morning Singapore time.

“When they’re ready to spend, then that V (shaped recovery) ... can take hold and things can start to recover quickly,” he said.

Stocks briefly cut losses Thursday after the Fed said it would conduct three repo operations as part of a stepped-up program to help keep liquidity flowing. The central bank added more than $198 billion to the financial system in a combination of overnight and longer-term offerings. But the market ended up closing at session lows.

Investors were also bombarded with a slew of negative headlines about the fast-spreading coronavirus.  The NCAA has canceled its March Madness basketball tournaments, a day after the National Basketball Association suspended the remainder of its season indefinitely. New York City Mayor Bill de Blasio declared a state of emergency, while new restrictions for large events and businesses were imposed.

“There are no guarantees here, and things could get worse,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. “If the number of cases continues to increase, the economic damage will go from hitting confidence to something worse. If the economy deteriorates, markets will reflect that shift.”

 

Meanwhile, the White House’s response to the coronavirus outbreak disappointed the market. President Donald Trump announced travel from Europe will be suspended for 30 days, and added the administration would provide financial relief for workers who are ill or quarantined. 

Traders awaited more action by government officials heading into the weekend.

Thursday’s rout also marked the second time this week that a market-wide circuit breaker was triggered to prevent stocks from a free-fall. Trading was halted for 15 minutes shortly after the open after an initial 7% drop in the S&P 500.

“These are no doubt jarring times — investors should take this time to review their portfolio and make sure they’re comfortable with their level of risk,” said Mike Loewengart, managing director of investment strategy at E-Trade.

 

 

[xano917]

Yenduku peruguthundo artham avvatledu makku boy 

[tacobell fan]

Just now, xano917 said:

Yenduku peruguthundo artham avvatledu makku boy 

 

2 minutes ago, tacobell fan said:

Futures got a boost in part after House Speaker Nancy Pelosi said U.S. lawmakers and the White House were close to a deal on economic relief amid the coronavirus outbreak. “We’ve resolved most of our differences,” Pelosi told reporters Thursday evening.

 

[tacobell fan]

Just now, xano917 said:

Yenduku peruguthundo artham avvatledu makku boy 

Stimulus vastadhi ani

[xano917]

Just now, tacobell fan said:

Stimulus vastadhi ani

Adi ninnati story no , ninnane peragali. Why today ? 

[tacobell fan]

1 minute ago, xano917 said:

Adi ninnati story no , ninnane peragali. Why today ? 

Agreement happened last night after Markets Closed. They agreed because they saw how markets reacted. 

[SwamyRaRa]

Vuuu 

[r2d2]

At this stage it doesn’t really matter... 

[tacobell fan]

8 minutes ago, r2d2 said:

At this stage it doesn’t really matter... 

Gained by @TRUMP it matters a lot to him 

[r2d2]

2 minutes ago, tacobell fan said:

Gained by @TRUMP it matters a lot to him 

he seems to think about something else, though...

 

[user789]

48 minutes ago, xano917 said:

Yenduku peruguthundo artham avvatledu makku boy 

every Friday it goes up and Monday - Thu goes down...

[2020]

1 hour ago, user789 said:

every Friday it goes up and Monday - Thu goes down...

Oh ok

[r2d2]

ముందుంది మొసళ్ళ పండగ.. with all the closures.. buisness poortiga Mg potundi... next qtr earnings release ayyaaka asalu picture clear ga telustndi.. layoffs/bankruptcies/foreclosures etc will follow depending on the situation... till then these one day up next day down will continue..

cash is king.. hold on to it...

[aakathaai789]

markets buying lo ki vasthunnattu anipisthundi ivvaala nifty 8400 dhaaka thechaaru malli back to 10k 

[bhaigan]

markets live

https://www.facebook.com/watch/live/?v=850030268757770&ref=notif&notif_id=1584108710464043&notif_t=live_video