STOCK MARKET WATCH - Friday, 17 April 2020

[Tansy_Gold]

STOCK MARKET WATCH, Friday, 17 April 2020

Previous SMW:
SMW for 16 April 2020




AT THE CLOSING BELL ON: 16 April 2020


Dow Jones 23,537.68 +33.33 (0.14%)
S&P 500 2,799.55 +16.19 (0.58%)
Nasdaq 8,532.36 +139.19 (1.66%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits
Yahoo International
CNN Money Premarket

(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.

[at140]

1. Stock market is rocketing UP today!

Great news for all of us who have 401-k's and personal IRA's.

[progree]

2. Helpful for fuckface's reelection prospects too. Since inauguration day 2017:

DOW
https://finance.yahoo.com/quote/%5EDJI/history?p=%5EDJI
1/19/17 close: 19732
1/20/17 close: 19827
4/17 955a ET : 24072

S&P 500:
https://finance.yahoo.com/quote/%5EGSPC/history?p=%5EGSPC
1/19/17 close: 2264
1/20/17 close: 2271
4/17 955a ET: 2855

(I generally use the last close before inauguration day as my benchmark (1/19/17), but a lot of people prefer to use the inauguration day close (1/20/17). So I present both the 1/19 and 1/20 numbers to satisfy everyone).

[at140]

6. Your data has more value than any pollster!

The stock market numbers in last week of October will be better predictors than all the polls combined.

[progree]

3. Not so good on Main Street

Howard Schultz warns of 'carnage' to small biz as coronavirus aid falls short, Yahoo Finance, 4/16/20

Howard Schultz, the former CEO of Starbucks (SBUX), said on Thursday that while the $349 billion Paycheck Protection Program (PPP) from the coronavirus stimulus plan is “just a band-aid,” far more is needed for small businesses to survive.

On Thursday morning, The U.S. Small Business Administration effectively ran out of money for the PPP, making the agency unable to dole out emergency loans to cash-strapped applicants. The money was a slice of the $2 trillion stimulus proposed by the CARES Act to stave off the pandemic’s worst effects.

In a wide-ranging interview with Yahoo Finance, Schultz made a case that the government needs an even bigger “trillion-dollar number” to save U.S. small businesses. If the government doesn’t act fast, the ex-CEO warned the economic cost will be “much, much greater for a longer period of time” than what it will cost to help small businesses now.

More: https://finance.yahoo.com/news/starbucks-howard-schultz-warns-of-carnage-to-small-biz-as-coronavirus-aid-falls-short-204634055.html

Not that Starbucks is a small "Main Street" business

[Maeve]

4. U.S. stocks soar after coronavirus drug trial shows early promise against severe symptoms

https://www.washingtonpost.com/business/2020/04/17/stock-market-gilead-drug-coronavirus/

Stocks flashed green around the world as investors clung to early reports that an antiviral medicine appeared to successfully treat severe symptoms for coronavirus patients.

The Dow Jones industrial average surged roughly 600 points at Friday’s open before dialing back some of those gains. The Standard & Poor’s 500 jumped 1.5 percent and Nasdaq composite climbed 0.85 percent.

U.S. markets appeared headed toward their second straight week of gains, bouncing back from March lows that ended the 10-year bull market. The rally came a day after dismal economic numbers showed the United States had erased all job gains of the past decade due to the pandemic, which continues to force tens of millions of Americans to stay home and disrupt entire industries.

Wishful thinking is a powerful force...(I know, I'm a pessimist; I prefer to think I'm a realist. Only time will tell...)

[at140]

5. We all should have bought Gilead stock sooner!

It is rocking now!