Money Sense

[Anonymous]

U.S. stocks skyrocketed on Monday, with the Dow setting a single-day point record in a broad-based rebound, after mounting coronavirus fears sent global markets into a week-long swoon.



The powerful rally sent the blue-chip Dow index soaring by more than 1,290 points, which beat the previous record set in December 2018 and snapped a brutal seven-session losing streak. On a percentage basis, the S&P 500 Index and Nasdaq both saw their biggest move in over a year.



However, investors aren't entirely convinced the worst is over, as the COVID-19 outbreak continues its inexorable spread across dozens of countries. Any near-term bounce is unlikely to hold.



Here were the main moves in markets, as of 4:00 p.m. ET:



S&P 500 (^GSPC): +4.61% or +136.30 points to 3,090.52



Dow (^DJI): +5.10% or +1,296.81 points to 26,706.17



Nasdaq (^IXIC): +4.49% or +384.80 points to 8,952.17



Crude oil (CL=F): +5.56% or +2.49 to 47.25 a barrel



Gold (GC=F): +1.29% or +20.20 to 1,586.90 per ounce



10-year Treasury (^TNX): -3.46% or -0.0390 to 1.0880

[Anonymous]

The Fed is trying to put a floor under the coronavirus fallout by cutting interest rates. It's not likely to make a difference like it did in 2008 because supply chains have been disrupted. This will go on until the number of new cases outside China is under control and we have a vaccine.

[Thiel]

Seoulbro, do you have any idea when markets will bottom out? Is this a good time to do some bargain hunting for stocks?

[Anonymous]

Seoulbro, do you have any idea when markets will bottom out? Is this a good time to do some bargain hunting for stocks?

I hope he can reassure us, but I won't hold my breath.

[Anonymous]

Seoulbro, do you have any idea when markets will bottom out? Is this a good time to do some bargain hunting for stocks?

It's very bad. The methods that governments propped up markets in 2008, like lowering income taxes, interest rates and extending credit to failing industries won't get people flying, taking trains or going to restaurants and malls. It's too late now to contain it. Tens of thousands will become infected in coming months. It will shut down/slow large sectors of North America's economy and stimulus won't help. Canada will be in recession by the final quarter, if we are growing at all now. The US will likely fare slightly better, but their economy will go into stall down mode for a while too.

[Anonymous]

Seoulbro, do you have any idea when markets will bottom out? Is this a good time to do some bargain hunting for stocks?

It's very bad. The methods that governments propped up markets in 2008, like lowering income taxes, interest rates and extending credit to failing industries won't get people flying, taking trains or going to restaurants and malls. It's too late now to contain it. Tens of thousands will become infected in coming months. It will shut down/slow large sectors of North America's economy and stimulus won't help. Canada will be in recession by the final quarter, if we are growing at all now. The US will likely fare slightly better, but their economy will go into stall down mode for a while too.

 

[Anonymous]

The ups and downs on the markets continued today. The Dow alone was up 1167 points.

[Anonymous]

I will not be posting any updates here for the foreseeable future. Changes are not due to market forces and because of that I will be posting in the various COVID-19 threads until things return to something resembling normal.

[@realAzhyaAryola]

The economy is just awful. This could end the Trump presidency, do you think so? Perhaps no second term. Fickle voters will sabotage it. What do you think?

[Anonymous]

The economy is just awful. This could end the Trump presidency, do you think so? Perhaps no second term. Fickle voters will sabotage it. What do you think?

It won't likely end the Trudeau government, any of the Asian or European governments. It all depends on if the American voter thinks this is China's fault or Washington's fault. We'll see in November won't we.

[@realAzhyaAryola]

The economy is just awful. This could end the Trump presidency, do you think so? Perhaps no second term. Fickle voters will sabotage it. What do you think?

It won't likely end the Trudeau government, any of the Asian or European governments. It all depends on if the American voter thinks this is China's fault or Washington's fault. We'll see in November won't we.

I am not happy. I see "Trump-era gains are lost" and I see Biden winning in primaries, the virus is still not completely contained and prevented, I just wonder how my candidate will do in November. I am cranky today, very cranky.

[Anonymous]

The economy is just awful. This could end the Trump presidency, do you think so? Perhaps no second term. Fickle voters will sabotage it. What do you think?

It won't likely end the Trudeau government, any of the Asian or European governments. It all depends on if the American voter thinks this is China's fault or Washington's fault. We'll see in November won't we.

I am not happy. I see "Trump-era gains are lost" and I see Biden winning in primaries, the virus is still not completely contained and prevented, I just wonder how my candidate will do in November. I am cranky today, very cranky.

As I said, if the Dems can convince voters this pandemic was Trump's fault and not China's, Biden wins. The US is the only country blaming their head of government for this global shut down.

[@realAzhyaAryola]

The economy is just awful. This could end the Trump presidency, do you think so? Perhaps no second term. Fickle voters will sabotage it. What do you think?

It won't likely end the Trudeau government, any of the Asian or European governments. It all depends on if the American voter thinks this is China's fault or Washington's fault. We'll see in November won't we.

I am not happy. I see "Trump-era gains are lost" and I see Biden winning in primaries, the virus is still not completely contained and prevented, I just wonder how my candidate will do in November. I am cranky today, very cranky.

As I said, if the Dems can convince voters this pandemic was Trump's fault and not China's, Biden wins. The US is the only country blaming their head of government for this global shut down.

This virus is not Trump's fault but he could lose his second term because of it if people choose to be idiots.

[Anonymous]

The economy is just awful. This could end the Trump presidency, do you think so? Perhaps no second term. Fickle voters will sabotage it. What do you think?

It won't likely end the Trudeau government, any of the Asian or European governments. It all depends on if the American voter thinks this is China's fault or Washington's fault. We'll see in November won't we.

I am not happy. I see "Trump-era gains are lost" and I see Biden winning in primaries, the virus is still not completely contained and prevented, I just wonder how my candidate will do in November. I am cranky today, very cranky.

As I said, if the Dems can convince voters this pandemic was Trump's fault and not China's, Biden wins. The US is the only country blaming their head of government for this global shut down.

This virus is not Trump's fault but he could lose his second term because of it if people choose to be idiots.

Americans are idiots. They will elect Biden who is the biggest China ass kisser in Washington. He will make the situation worse by keeping the US dependent on China for medicine. Just like Justin Trudeau.

[@realAzhyaAryola]

The economy is just awful. This could end the Trump presidency, do you think so? Perhaps no second term. Fickle voters will sabotage it. What do you think?

It won't likely end the Trudeau government, any of the Asian or European governments. It all depends on if the American voter thinks this is China's fault or Washington's fault. We'll see in November won't we.

I am not happy. I see "Trump-era gains are lost" and I see Biden winning in primaries, the virus is still not completely contained and prevented, I just wonder how my candidate will do in November. I am cranky today, very cranky.

As I said, if the Dems can convince voters this pandemic was Trump's fault and not China's, Biden wins. The US is the only country blaming their head of government for this global shut down.

This virus is not Trump's fault but he could lose his second term because of it if people choose to be idiots.

Americans are idiots. They will elect Biden who is the biggest China ass kisser in Washington. He will make the situation worse by keeping the US dependent on China for medicine. Just like Justin Trudeau.

I sure hope a majority will be brighter.