Dow Jones Futures Plunge 1,500 Points: Covid-19 Second Wave Fear Mount; Coronavirus Stock Market Rally Fizzle

Dow Jones Futures Plunge 1,500 Points: Covid-19 Second Wave Fear Mount; Coronavirus Stock Market Rally Fizzle

The Dow Jones futures are trading lower as investors have genuine qualms about the spike in coronavirus cases in the US. I am skeptical of calling the current spike in coronavirus cases in the US as a second wave because the situation was never under control there and the civil unrest triggered by Trump’s tweet may have just made the existing situation worse. We do not have any strong evidence for a second coronavirus wave appearing in countries that have opened up after initially controlling the virus.

Additionally, the stock market rally was hoping for a hug from the Federal Reserve, but the lack of the Fed’s confidence in the US economic recovery is also impacting the S&P500 futures and the risk-on sentiment. However, the Federal Reserve is set to keep the interest at a lower rate for longer, which triggered a massive rally in safe-haven assets. Basically, the stock market rally is like a child who wakes up crying and wants the Fed to soothe it. The market breadth of the S&P500 still seems to suggest that the bull drive hasn’t lost momentum.

We have seen bulls returning to the commodity space; specifically gold, which surged massively yesterday on the back of the Federal Reserve’s promise to keep the interest lower for longer. However, the gold price seems to have given up some of those gains today, although this can change as trading progresses.

Here is more detail on these topics:

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, … [+] March 12, 2020. The rout in global stocks deepened as investors showed a lack of faith in the U.S. and European policy responses to the worsening spread of the coronavirus. The dollar surged. Photographer: Michael Nagle/Bloomberg

The Dow Jones futures are trading sharply lower by 1,500 points as the Dow index stocks are still retracing from their recent rally. The Dow chart below shows that the Dow Jones price has moved away from the upper level of the Bollinger band—a level that usually triggers retracement—and is moving towards its mean, which is the 20-day moving average. I do not think that the current sell-off is anything more than just profit-taking because the Dow Jones industrial average is still trading above the important 50, 100, and 200-day moving averages. The Dow Jones is likely to bounce from its 200-day moving, but if it fails to stay above the 200-day moving average, it would mean that the bulls are losing some control of the price.

Dow Jones index sells off and traders are getting worried. If the index doesnt bounce back up from … [+] its 200-day SMA, the stock rally may fall in trouble

The stock market rally is taking a beating, and investors are eagerly taking profit off the table. The current sell-off for the Dow Jones and S&P 500 stocks does not come as a major surprise as I mentioned two key factors ahead of this sell-off during the past two days. 

The S&P500 index closed lower by 0.53% and the Dow Jones industrial average fell 1.04% yesterday. Once again, it was the energy sector that led the losses for the S&P 500 stocks, and apart from the Information technology sector, all other sectors closed lower. The financial and industrial sectors plunged by 3.74% and 2.38%, respectively. 

Federal Reserve Chairman Jerome Powell’s statements on the central bank’s interest rate and monetary policy were taken by the markets as ultra-dovish comments. This is mainly because he phrased it as the Fed is not even “thinking of thinking increasing the interest rate hike”. This shows that the lower interest rates are here to stay indefinitely. 

The tech index, NASDAQ, closed above the 10,00 mark for the first time yesterday and scored gains of 1.20%. 

Measuring market breadth is an essential function as it provides a lot more detail about the strength of the stock market rally and helps traders filter out the noise. 

Key takeaway: more stocks have fallen below their 200-day moving average across all major indices 

 The S&P stocks breadth 

  •  70% stocks trading above the 10-day smooth moving average- difference from yesterday -17% 
  •  96% stocks trading above the 50-day smooth moving average- difference from yesterday -1% 
  •  49% stocks trading above the 200-day smooth moving average- difference from yesterday -5% 
  • The Dow Jones stocks breadth 

  •         90% stocks trading above the 10-day smooth moving average- difference from yesterday 0% 
  •         93% stocks trading above the 50-day smooth moving average- difference from yesterday 3% 
  •         43% stocks trading above the 200-day smooth moving average- difference from yesterday -10% 
  • The NASDAQ stocks breadth 

  • 66% stocks trading above the 100-day smooth moving average-difference from yesterday -12%
  •         88% stocks trading above the 50-day smooth moving average-difference from yesterday +4% 
  •         44% stocks trading above the 200-day smooth moving average- difference from yesterday -4% 
  • Coronavirus cases have surged in the US, and the situation looks even direr in Texas. There are concerns that a second wave is coming as the economy begins to open. The recent civil unrest over the death of George Floyd may also have some part in this. This also raises questions of whether these numbers are going to shoot up even more as the US elections are just around the corner, and it seems like Trump administration is ready to kickstart mass rallies. If and when these mass rallies begin, they are likely to push up the coronavirus cases. At least this is the preliminary conclusion by some experts in the light of riots happening in the US and the re-opening of the economy. The chief scientist in the US continues to warn that we still have a long way to go.

    The fact is that there is a serious question mark in labeling the current spike in coronavirus cases as the second wave because the US never got the situation under control before it began to open up the economy. A large majority of coronavirus cases were from New York, and this state did do a great job in controlling it. However, the rest of the country failed to get things under control resulting in the current situation. We have not seen any strong signs of a second wave in those countries that have done a good job in infection control. So, it may not be wrong to relabel the current coronavirus spike in the US as an uncontrolled spike. 

    Total cases of coronavirus in the US are now 2 million according to the John Hopkins University data. Nearly 2,052 new cases have emerged in Texas and this is the highest one-day spike since the pandemic started. In California, the hospitalization rate has also surged to its highest level since May.

    The WHO has also warned that a persistent increase in the coronavirus infection rate in Latin America is a deep concern. 

    After the jaw-dropping US unemployment rate released last week, traders are going to dissect the weekly jobless claims data more intensively. So far, the continuous claims data is likely to become cumbersome for the US policy officials because if we do see this number keep increasing or staying at current levels for longer, it would mean more pain ahead for the US stock market and for the Trump administration. Today’s forecast is for 2 million, a small drop from the previous number of 2.1 million. As for the initial jobless claims, the forecast is for 1550K, again a small improvement against the last week’s reading of 1877K. 

    If the overall message from this data shows that we have seen the bottom and things are likely to improve, then we could see improvement in the Dow Jones industrial average and the S&P 500, which have both been beaten down during the past two days.

    Dow Jones Futures Rise As Pompeo Blasts HSBC; NASDAQ Hit 10,000 Ahead Of Fed Meeting

    Gold Prices: Can They Remain Immune To Exploding Political Events In The US?

    Hopes For A Second Stimulus Check Dwindle

    Source: www.forbes.com

    Author: Naeem Aslam


    Stocks plunge on COVID-19's spread and Fed's cautious comments

    Stocks plunge on COVID-19’s spread and Fed’s cautious comments

    Stocks stumbled on Thursday amid a rising number of coronavirus infections in many U.S. states and countries, raising fears on Wall Street about the impact on the economy’s recovery. The slump also comes after the Federal Reserve’s forecast on Wednesday that as many as 15 million Americans will remain unemployed by year-end into 2021. 

    The Dow Jones industrial average plunged 1,862 points, or 6.9%, to 25,128. The broader S&P 500-stock index fell 5.9% and the tech-heavy Nasdaq composite slipped 5.3%. 

    Stocks have been rallying over the past two months at a rate that many skeptics said was unsustainable and that didn’t reflect the dire condition of the American economy. The Federal Reserve warning on Wednesday that the road to recovery would be long conflicts with the Trump administration’s sunnier forecast. More than 2 million Americans filed for jobless aid in the latest week, a signal that the effects of coronavirus closures linger even as the labor market improves amid business reopenings and rehirings.

    “The labor market is coming back, but it is very unclear as to how long it will take to heal,” said Gus Faucher, chief economist at PNC, in an email. “But if virus concerns persist and consumers are reluctant to spend, many businesses will close permanently, forcing workers to find new jobs and slowing the labor market recovery.”

    In the U.S., Texas and Florida were among the states reporting jumps in the number of coronavirus cases after precautions were relaxed last month. The total number of U.S. cases has surpassed 2 million and the country’s official tally of deaths from COVID-19 exceeds 111,000.

    Globally, India reported a record number of nearly 10,000 new coronavirus cases over the past 24 hours, with health services in the worst-hit cities of Mumbai, New Delhi and Chennai becoming swamped by the rising infections. In South Korea, the latest 45 new cases came in a weeks-long resurgence that health authorities said they fear might develop into a massive second wave of infections and hospitalizations.

    Such developments have raised alarm on Wall Street, according to markets analyst Stephen Innes of AxiCorp. “After all, a secondary outbreak is nothing to sneeze at as traders remain in a state of risk limbo watching risk assets for signs of continuation or stall,” Innes said in a commentary.

    The outlook for a recovery from the steepest economic slump in decades is uncertain as states and countries push ahead with reopenings from pandemic shutdowns.

    Brazil, Mexico, South Africa, India and Pakistan are among countries easing tight restrictions before their first outbreaks have peaked and before establishing detailed surveillance and testing systems to keep the virus under control. Health experts have warned that could ultimately have devastating consequences.

    In the U.S., seventeen states have reported an increase in average daily new COVID-19 cases compared with two weeks ago, including Florida, California and Texas. The number of confirmed coronavirus cases in the United States topped 2 million late Wednesday night, according to Johns Hopkins University. 

    Source: www.cbsnews.com


    Industry News: Hydrocyclone Market share will grow at CAGR of 3.2 % says Marketstudyreport

    Industry News: Hydrocyclone Market share will grow at CAGR of 3.2 % says Marketstudyreport

    As per the latest report added by Market Study Report LLC, the overall Hydrocyclone market size, have been registered at 500 Million in 2019, is projected to witness a growth rate of close to 3.2 %, and is likely to cross a valuation of 600 Million by the year 2024.

    The report has been prepared based on the synthesis, analysis, and interpretation of information about the global Hydrocyclone market collected from specialized sources. The competitive landscape section of the Hydrocyclone Market report provides a clear insight into the market share analysis of key industry players. Company and financial overview, product portfolio, new project launched, recent development analysis are the parameters included with this report.

    Request a sample Report of Hydrocyclone Market at:https://www.marketstudyreport.com/request-a-sample/1607434?utm_source=marketwatch.com&utm_medium=PC

    Hydrocyclone Market Breakdown Data by Companies

    Hydrocyclone Market outlook:Apart from exploring into the various segments, the report clustered on key Hydrocyclone Market trends and sectors that are either driving or averting the growth of the Hydrocyclone industry. Growth policies and plans are mentioned likewise as producing processes and cost structures also are analyzed. The Hydrocyclone Market industry development trends are studied through both secondary and primary sources. Finally, the feasibility of the latest investment comes is assessed and overall analysis conclusions offered in Hydrocyclone market analysis report.

    Hydrocyclone Market Breakdown Data by Type

    Hydrocyclone Market Breakdown Data by Application

    Market Dynamics:Factors in relation to products like the products prototype, manufacturing method, and r&d development stage are well-explained in the global Hydrocyclone Market research report with point-to-point structure and with tables and figures. The report covers the major driving factors influencing the revenue scale of the Hydrocyclone market and details about the rising demand for the product from the key geological regions. The Hydrocyclone market analyst pot light on different approaches to discover the strengths, weaknesses, opportunities, and threats affecting the growth of the global Hydrocyclone Market.

    What report provides

    A Glimpse over the highlights of the report:

    Read Full Report at: https://www.marketstudyreport.com/reports/global-hydrocyclone-market-2019-by-manufacturers-regions-type-and-application-forecast-to-2024

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    At 6.1% CAGR, Laparoscopic Devices Market Size Set to Register 8960 million USD by 2024

    At 6.1% CAGR, Laparoscopic Devices Market Size Set to Register 8960 million USD by 2024

    Selbyville, Delaware Laparoscopic Devices Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

    Request Sample Copy of this report at: https://www.marketstudyreport.com/request-a-sample/1916814/?utm_source=MarketWatch&utm_medium=RV

    Laparoscopy is a type of surgical procedure in which a small incision is made, usually in the navel, through which a viewing tube (laparoscope) is inserted.

    Laparoscopy devices are a series of Camera-monitoring system, CO2 insufflators system, and mechanical operation system under typically minimally invasive surgery (MIS) performed in the hospital with general anesthesia.

    The growth in the market will benefit from continuous advancements in technology and a parallel reduction in the prices of high-end laparoscopic instruments. The resulting decline in the cost of laparoscopy is helping make these procedures affordable to a large base of patients thus benefiting demand for laparoscopic devices.

    Much more companies getting into the laparoscopic devices industry and the market are a little scattered. Key players in laparoscopic devices market include Ethicon Endo-Surgery, Olympus, Medtronic(Covidien ), Stryker, Smith & Nephew, Karl Storz, Boston Scientific, Richard Wolf, Aesculap(B. Braun), Intuitive Surgical, Apollo Endosurgery (Allergan), and Tiansong, etc. Ethicon Endo-Surgery, Olympus, and Medtronic(Covidien) are the dominators of the laparoscopic devices industry at the moment, and totaled accounted for about 32 percent.

    In 2015, major demand accounts 43.23% from USA in the global laparoscopic devices market and will increase stably. Europe is occupied 22.21% market in laparoscopic devices industry. Other major demand is expected from emerging markets of China and Japan, total contributed 22.66 percent.

    This report focuses on the Laparoscopic Devices in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

    Market Segment by Manufacturers, this report covers

    Ethicon Endo-Surgery

    Olympus

    Medtronic(Covidien )

    Stryker

    Smith & Nephew

    Karl Storz

    Boston Scientific

    Richard Wolf

    Aesculap(B. Braun)

    Intuitive Surgical

    Apollo Endosurgery (Allergan)

    Tiansong

    Medical Optical

    Shenda

    Shikonghou

    HAWK

    xinxing

    Market Segment by Type, covers

    Camera-Monitoring System

    CO2 Insufflators System

    Mechanical Operation System

    Market Segment by Applications, can be divided into

    General Surgery

    Urological Surgery

    Bariatric Surgery

    Gynecological Surgery

    Colorectal Surgery

    Other

    Full Report Summary At: https://www.marketstudyreport.com/reports/global-laparoscopic-devices-market-2019-by-manufacturers-regions-type-and-application-forecast-to-2024?utm_source=MarketWatch&utm_medium=RV

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    Market Study Report, LLC. is a hub for market intelligence products and services.

    We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.

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    If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.

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    COMTEX_366812635/2599/2020-06-11T13:35:00

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    Top stocks on Robinhood brokerage get crushed as market violently reverses

    Top stocks on Robinhood brokerage get crushed as market violently reverses

    A man looks at an electronic quotation board displaying stock prices of the Tokyo Stock Exchange in Tokyo on May 26, 2020.

    KAZUHIRO NOGI | AFP via Getty Images

    After reaping profits during the market’s rebound, some Robinhood traders are getting squeezed as the Dow violently reverses its winning ways with a 1,600-point plunge.

    The most bought stocks on the free-trading app over the past 24 hours were all in the red Thursday, according to RobinTrack, which follows trading volume on Robinhood. The most bought name — Ford Motor Company — was down 9%, with some other top picks down double digits. 

    Robinhood traders had booked profits as stocks swung back into the green in recent weeks. The top names on the app, whose average client is 31, had some of the best returns in the past two months. Meanwhile, billionaire hedge fund managers who predicted stocks would retest their lows were left on the sidelines. 

    The Dow Jones Industrial Average plunged 6% Thursday and was heading towards its worst day since the March as coronavirus cases increased in some states that are reopening up from lockdowns. Shares that have surged recently on hopes for a smooth reopening of the economy led the declines. Traders dumped airlines, cruise operators and retailers after piling into those names over the past month amid expectations of a swift economic recovery. 

    “We see a lot of buying activity of specifically industries that were impacted by the pandemic,” Robinhood co-founder and co-CEO Vladimir Tenev said at the Piper Sandler Global Exchange & FinTech Conference last week. Investors traded “a lot in airlines, a decent amount of buying in videoconferencing, streaming services, some biopharmacuetical as well.” 

    Stanley Druckenmiller was one widely followed investor who misjudged stocks’ comeback, saying last week that he underestimated the power of the Federal Reserve and the strong bounce over the last three weeks “humbled” him.  Legendary value investor Warren Buffett sold his stake in airlines, which had rallied in recent weeks, during the pandemic.

    On Monday, Barstool founder and sports CEO Dave Portnoy, who recently picked up day trading, slammed Berkshire Hathaway’ Buffett for unloading airlines. Portnoy told CNBC in May that he dipped into the market to get a sense of competition, and fill the void while pro sports were on hold.

    “Why take profits when every airline goes up 20% every day. Losers take profits. Winners push the chips to the middle. … I should be up a billion dollars,” Portnoy said. “I’m just printing money.”

    — CNBC’s Maggie Fitzgerald and Fred Imbert contributed reporting.

    Source: www.cnbc.com

    Author: Kate Rooney


    Live Now: Remanufactured Medical Imaging Device Market Share with growth rate 5.3 % with business forecast by 2024

    Live Now: Remanufactured Medical Imaging Device Market Share with growth rate 5.3 % with business forecast by 2024

    As per the latest report added by Market Study Report LLC, the overall Remanufactured Medical Imaging Device market size, have been registered at 2350 Million in 2019, is projected to witness a growth rate of close to 5.3 %, and is likely to cross a valuation of 3200 Million by the year 2024.

    The report has been prepared based on the synthesis, analysis, and interpretation of information about the global Remanufactured Medical Imaging Device market collected from specialized sources. The competitive landscape section of the Remanufactured Medical Imaging Device Market report provides a clear insight into the market share analysis of key industry players. Company and financial overview, product portfolio, new project launched, recent development analysis are the parameters included with this report.

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    Remanufactured Medical Imaging Device Market Breakdown Data by Companies

    Remanufactured Medical Imaging Device Market outlook:Apart from exploring into the various segments, the report clustered on key Remanufactured Medical Imaging Device Market trends and sectors that are either driving or averting the growth of the Remanufactured Medical Imaging Device industry. Growth policies and plans are mentioned likewise as producing processes and cost structures also are analyzed. The Remanufactured Medical Imaging Device Market industry development trends are studied through both secondary and primary sources. Finally, the feasibility of the latest investment comes is assessed and overall analysis conclusions offered in Remanufactured Medical Imaging Device market analysis report.

    Remanufactured Medical Imaging Device Market Breakdown Data by Type

    Remanufactured Medical Imaging Device Market Breakdown Data by Application

    Market Dynamics:Factors in relation to products like the products prototype, manufacturing method, and r&d development stage are well-explained in the global Remanufactured Medical Imaging Device Market research report with point-to-point structure and with tables and figures. The report covers the major driving factors influencing the revenue scale of the Remanufactured Medical Imaging Device market and details about the rising demand for the product from the key geological regions. The Remanufactured Medical Imaging Device market analyst pot light on different approaches to discover the strengths, weaknesses, opportunities, and threats affecting the growth of the global Remanufactured Medical Imaging Device Market.

    What report provides

    A Glimpse over the highlights of the report:

    Read Full Report at: https://www.marketstudyreport.com/reports/global-remanufactured-medical-imaging-device-market-2019-by-manufacturers-regions-type-and-application-forecast-to-2024

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    Market Study Report LLC

    Phone: 1-302-273-0910

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    COMTEX_366825415/2599/2020-06-12T01:26:58

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    Dow Jones Futures Plunge 1,500 Points: Covid-19 Second Wave Fear Mount; Coronavirus Stock Market Rally Fizzle


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