Pandemic US markets thread - March 3 +

[Ronan Kelly]

Dow futures tumble 900 points as all-out oil price war adds to coronavirus stress
PUBLISHED SUN, MAR 8 20206:01 PM EDTUPDATED 8 MIN AGO
Yun Li
@YUNLI626
Stock futures tumbled in overnight trading Sunday as investors continued to brace for the economic fallout from the spreading coronavirus, while a shocking all-out oil price war added to the anxiety.

Futures on the Dow Jones Industrial Average plunged more than 900 points. The S&P 500 futures also indicated a 4% drop at the open on Monday. The sharp declines in the futures market pointed to more turbulence ahead after a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight.
...

https://www.cnbc.com/2020/03/08/dow-futures-drop-700-points-as-all-out-oil-price-war-adds-to-coronavirus-stress.html

[sharon sanders]

In a desperate move to save the markets after last week's coronavirus sell off the fed lowered interest rates by .5% this morning

Stocks Fall Sharply Despite Surprise Fed Rate Cut

Dow closes nearly 800 points lower, Treasury yields drop again despite Federal Reserve move

https://www.wsj.com/articles/global-stocks-gain-on-stimulus-hopes-11583206230

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source on these graphs is google tools

[sharon sanders]

The reason the date on this post is earlier than the 1st post is because I moved it from another thread.

[sharon sanders]

and more....

screen shot taken at 10:30 pm ET March 8, 2020

https://www.bloomberg.com/markets/stocks/futures

[Laidback Al]

While much of the world is worried about the economic effects of the coronavirus, jockeying for dominance in the oil market still takes place. Saudi Arabia tried to negotiate production caps of oil with Russia to prop up the price of oil. Russia refused and now Saudi Arabia will turn on the oil faucet and flood the market with several million more barrels of oil per day. Because the cost of production of oil in Saudi Arabia is almost free, even at reduced prices Saudi Arabia will still be bringing in the profits. The excess oil in markets could drive down prices to $20 a barrel. Oil at this price for a long period will drive US oil producers out of business causing economic devastation in states with major oil fields.


Putin just sparked an oil price war with Saudi Arabia — and US energy companies may be the victims

[gsgs]

2020/03/09/08:42 UTC , DAX=10760(-6.8%),DOW=24561(-5.0%),Brent-oil=36.1(-21%),Euro=1.14
USA imports more oil than it exports, so this should be good for USA as a whole.

[sharon sanders]

Markets full stop at open:

[sharon sanders]

"Carnage across the board"

Markets halted again at open

[sharon sanders]

Dow plunges 10% and marks worst worst day since the 1987 crash as coronavirus crushes Wall Street's buying sentiment


Published: March 12, 2020 at 4:08 p.m. ET

https://www.marketwatch.com/story/dow-plunges-10-and-marks-worst-worst-day-since-the-1987-crash-as-coronavirus-crushes-wall-streets-buying-sentiment-2020-03-12?mod=mw_latestnews

[Ronan Kelly]

And the futures are still trending downward - this is not over yet...

https://money.cnn.com/data/premarket/

[Ronan Kelly]

Goldman Sachs warns US stocks could plunge another 16% before rapidly recovering

By Matt Egan, CNN Business

Updated 4:12 PM ET, Mon March 16, 2020

New York (CNN Business)Mayhem has descended upon global financial markets. The Dow has suddenly crumbled to a three-year lows. Crude oil is in an epic tailspin. And central banks are racing to put out fires.

The damage on Wall Street might not nearly be done as authorities scramble to stop the spread of the coronavirus by shutting down parts of the once-booming American economy.
Goldman Sachs is warning clients that the S&P 500 could bottom at 2,000 by midyear, marking a 41% plunge from the record highs set just a month ago. The Wall Street bank expects stocks to rapidly recover before the end of the year.
...

https://www.cnn.com/2020/03/16/inves...rus/index.html

[sharon sanders]

Another down day in a stream of down days.

[Emily]

Quite a few federal lawmakers are being investigated.

https://www.theatlantic.com/ideas/archive/2020/03/congress-insider-trading-problem/608488/

An Invitation to Corruption


As long as lawmakers are allowed to trade individual stocks, disaster profiteering is always a risk.
2:55 PM ET

Annie Lowrey
Staff writer at The Atlantic

[blacknail]

Comment by me: This week feels like a classic pump and dump scheme where there has been a dog and pony show of lots of unproven forecasts to pump the markets up so the schemers can get out. I hope I am wrong.