The Federal Reserve is pumping billions more into financial markets, in addition to the latest $1.5 trillion announcement. The United States government plans to spend about $1 trillion, including stimulus checks for every American. Some companies are announcing human trials for vaccines.
And what happens? The stock market is set for another loss on Wednesday.
While financial markets rallied more than 1,000 points on Tuesday on the initial stimulus news, equities are on track for another day of declines. Tuesday might just have been a dead cat bounce.
At the time of this writing, here is what the futures market looks like:
– Dow Jones: -628 points to 20,232.
– S&P 500: -3.35 percent to 2,402.25
– Nasdaq: -3.55 percent to 7,129.50.
– Oil: -0.07 percent to $26.93
– 10-year Treasury note: 1.01 percent.
It seems like nothing will satisfy this market until a vaccine is developed and the number of cases crater.
Leave a Comment