STOCK MARKET WATCH - Friday, 13 March 2020

[Tansy_Gold]

STOCK MARKET WATCH, Friday, 13 March 2020

Previous SMW:
SMW for 12 March 2020




AT THE CLOSING BELL ON: 12 March 2020


Dow Jones 21,200.62 -2,352.60 (9.99%)
S&P 500 2,480.64 -260.74 (9.51%)
Nasdaq 7,201.80 -750.25 (9.43%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:







Gold & Silver:



Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[doc03]

1. Oh my Friday the 13th!

[Tansy_Gold]

2. Yep

What could happen?

[Warpy]

3. Oh, nothing much. Bargain hunters will be out

unless Dumdum opens his big, fat yap again. Maybe he's already flying down to Mar-a-Loco.

[bucolic_frolic]

4. Uncertainty wreaks havoc

Morgan Stanley guy was on Bloomberg TV after market close. Said he thinks it a buying opportunity. Guests were a bit taken aback. I don't see it, but no bounces in awhile. Don't read anything into this post. I'm bruised but it's survivable.

[Tansy_Gold]

5. Okay, question time

If the NY Fed pumped $1.5 Trillion into the system, supposedly to prop up the markets, where did it go?

Asking because I don't have a clue.

[Eugene]

6. Asian shares dive, then trim losses after Wall St sell-off

Source: Associated Press

Asian shares dive, then trim losses after Wall St sell-off

By ELAINE KURTENBACH
27 minutes ago

BANGKOK (AP) — Asian shares plunged, then recovered slightly as Friday the 13th brought still more turmoil to markets reeling from uncertainty over the coronavirus crisis.

Benchmarks in Japan, Thailand and India sank as much as 10% following Wall Street’s biggest drop since the Black Monday crash of 1987.

Tokyo’s Nikkei 225 fell nearly 6%. India’s Sensex yoyo’d between gains and losses after a 10% crash briefly halted trading. In Bangkok, the Thailand SET gained 0.5% after a temporary suspension of trading earlier in the day.

Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the meltdown in the U.S., the world’s biggest economy, batters confidence around the globe.

But there were signs that government action was beginning to resonate with panicked investors as some ventured back into markets in search of bargains.

-snip-

Read more: https://apnews.com/d6c4d01f199bbdccd8fa794e30e4e5c9

[Maeve]

7. The key word today is 'uncertainty'

Right now, the market futures are up, up, up! And if you expect that to last...right, wrong, maybe!
A rebound is normal after such a fall, but not usually back anywhere near the starting point. And reality has not been suspended--the virus is still pandemic, business (and people) are still going to take a major hit for weeks if not months and the oil price war is still on.
It's a bit like 9/11--terrible things have happened and we don't know what's going to happen next.

Try to get out into nature and hold tight to the people you love. Breathe.

[Maeve]

8. I see the headline writers are still trying to be bullish

"Stocks rebound"--as if they will get back up there if we all just wish REALLY hard...

So far, the markets are going up and then down, up a little less, then down a little more...this is a bear market--that means the general trend is going to be down for some time (figure 7-10 months, maybe less if governments get their acts together )

Here's one resource for info on bear markets:
https://www.hartfordfunds.com/dam/en/docs/pub/whitepapers/CCWP045.pdf