Dow caps volatile October with worst weekly finish since March

[TomCADem]

Source: MSN

The three major U.S. indexes closed out the final trading day of a turbulent October with more losses, capping a wretched week marked by a record surge in coronavirus infections, dashed hopes for an economic rescue deal before the election and renewed fears of a new wave of business disruptions.

The Dow Jones industrial average fell 157.51 points, or 0.6 percent, to close at 26.501.60. The blue-chip index shed 6.5 percent since Monday, marking its worst week since March. It also fell 4.6 in October to record its second straight monthly loss. The S&P 500 index tumbled 40.15 points, or 1.2 percent, to settle at 3,269.96. The tech-heavy Nasdaq gave up nearly 274.00 points, or 2.5 percent, to end at 10,911.59.

The blue-chip index moved into correction territory this week, after falling more than 10 percent from its February peak. October is typically the most volatile month for stock traders, although it has rewarded investors more times it has punished them.

The United States reported a record 90,000 new coronavirus infections on Thursday. The resurgence comes in the homestretch of the presidential campaign, amplifying a sense of unpredictability about the future of U.S. politics and the government’s response to the pandemic.

Read more: https://www.msn.com/en-us/money/markets/dow-caps-volatile-october-with-worst-weekly-finish-since-march/ar-BB1aypl8?li=BBnb7Kz

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This reminds me of February when the stock market started crashing as COVID cases increased while Trump insisted that everything is under control. Well, now we have cases and hospitalizations rising while the White House is bragging about having ended the pandemic.

Link to tweet

?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1232058127740174339%7Ctwgr%5Eshare_3&ref_url=https%3A%2F%2Fwww.vanityfair.com%2Fnews%2F2020%2F02%2Fdonald-trump-coronavirus-stock-market

https://www.vanityfair.com/news/2020/02/donald-trump-coronavirus-stock-market

On Monday, the Dow Jones Industrial Average closed down 1,031.54 points, or 3.55%, its biggest point drop in nearly two years. The S&P 500 also had its worst trading day since February 2018, falling 3.35% to 3,225.89 and erasing its year-to-date gains, while the Nasdaq Composite closed 3.7% lower at 9,221.28. When markets move one way or another, analysts rush to provide an explanation, despite the fact that sometimes there isn’t a simple answer for why, in Wall Street terms, things “shit the bed.” Today though, it appears pretty obvious that the biggest factor was the combination of a surge in coronavirus cases outside of China and the realization that Donald Trump has no idea what he’s doing in terms of a response, which is true in most circumstances but particularly worrisome when a deadly virus is concerned.

[OLDMDDEM]

1. I realize

Rump is not all there. Now it appears he isn't good with numbers. The stock market sucks and most of this is due to his idiotic tweets and lying. Next Tuesday can't get here fast enough. He's such an embarrassment to the US and humankind.

[TomCADem]

3. Just like February, When the White House Pretends That There Is No Pandemic...

...when cases and hospitalizations are going up, then people start to panic.

Right now, the Trump is invested in this fiction that the pandemic has ended, so nothing is going to be done.

[OLDMDDEM]

5. He will pay in the voting booth.

[ProfessorGAC]

2. DJIA Down 8.2% YTD

S&P is up YTD, only 0.37%.
NASDAQ is way up, though.

[bucolic_frolic]

4. I just wonder if the plan all along was to create wild swings and play them

The Senate knew about COVID in January, just like Trump. Some high profile ones traded on the info. Were the rest mere stargazers? Long and short, long and short.

Chinese trade deal! Long. Chinese deal flop. Short. Negotiation with China! Long. Talks collapse. Short.

You could play those announcements with Triple leveraged China ETFs and make a ton of money. Wait for Kudlow to pick up the trough, Trump to denounce Xi at the peak. Long and short. YINN and YANG, triple leveraged.

Same with COVID? Short in February! XLV Puts. Long in April, opening back up! XLV long. And all the pharmas along for the ride. Trump says no masks! Long! Cases rise. Short.

It's all about making money, isn't it? Some secret Chinese bank account? YINN and YANG? Who has their money in a bank??? No one. He doesn't use equity. It would be in the markets, with Steve, Larry, Wilbur, Mike, Jerome as senior consultants.

Full disclosure. I did make a few bucks here and there on YINN and YANG. If I could do it, imagine what someone with inside information could do.

[groundloop]

6. Don't forget what happened to Lockheed stock after tRump badmouthed them.....

I'm certain he and/or people he knew made a killing off of that.

[bucolic_frolic]

7. So you see, just like the election, just like these 4 years, chaos is a cover for the theft

There are people who don't even believe he had COVID, it was all a sympathy-play ruse.

Did his doctor giving the press conferences utter a word of truth? Did he look it?

[progree]

8. 101,044 at Worldometers now. MAGA! We've rounded the corner to 6 digits

U.S. New Cases
https://www.worldometers.info/coronavirus/country/us/

[BlueWavePsych]

9. Drumpf killed our economy.

[ck4829]

10. Kick

[onenote]

11. as of 10:04 am, Dow up over 480 points

People read too much into stock market swings.