Posted by ahbah > 2020-03-31 10:03 | Report Abuse

FOMO ... is the latest pandemic which is spreading like wild fire throughout the globe now !

Posted by Keyman188 > 2020-03-31 10:54 | Report Abuse

White House, Congress Weigh Next Stimulus With Virus Spreading

(March 31, 2020, 8:55 AM GMT+8 Updated on March 31, 2020, 10:21 AM GMT+8)

~ Officials consider aid for mortgage markets, travel industry

~ Pelosi says states and local governments will need more help


The White House and congressional Democrats are preparing for a fourth round of economic stimulus to get the U.S. through its coronavirus outbreak, even while they’re still arguing over the $2 trillion measure President Donald Trump signed Friday.

White House officials have compiled lists of requests from government agencies totaling roughly $600 billion, according to people familiar with the matter. The proposals include more state aid as well as financial assistance for mortage markets and the travel industries.

House Speaker Nancy Pelosi told reporters on Monday that Democrats are “collecting information, taking inventory” on what might be needed in another round of stimulus. She also indicated states and local governments need more federal assistance, and said there could be further direct payments to everyday Americans.

And in an interview with the New York Times published on Monday, she indicated that another possible move was getting rid of the limit on state and local tax deductions, or SALT, that was part of the 2017 tax overhaul and affects California, Pelosi’s home state, and New York.

But a spokesman for Chuck Grassley, an Iowa Republican and chairman of the Senate Finance Committee, dismissed the idea as “a nonstarter.”

“Millionaires don’t need a new tax break as the federal government spends trillions of dollars to fight a pandemic.” said the spokesman, Michael Zona.

The U.S. outbreak isn’t expected to peak for another two weeks, according to projections by the Institute for Health Metrics and Evaluation at the University of Washington, and the president has urged Americans to continue “social distancing” practices that have devastated the economy until May.

Trump said early Monday that he’s considering hazard pay for health care professionals in a subsequent bill. He said Sunday that he’s assigned the Treasury and Labor secretaries to work on restoring a tax break for corporate restaurant spending that was repealed as part of his 2017 tax overhaul. Such a change stands to benefit the president’s company, the Trump Organization, which rents space to restaurants at many of its resort properties.

Many of the priorities Pelosi outlined for a fourth round on Monday were part of an alternative stimulus bill House Democrats proposed last week, but were rejected by Senate leaders in negotiations with Trump’s administration.

Senate Impeachment Trial Of President Trump
Ted CruzPhotographer: Stefani Reynolds/Bloomberg
There’s bipartisan momentum building for another stimulus measure in Congress. Senator Ted Cruz, a Texas Republican, said Monday on Bloomberg Television that “if the crisis continues for substantially longer I have no doubt that the Congress will have to act again.”


##https://www.bloomberg.com/news/articles/2020-03-31/white-house-congress-weigh-next-stimulus-with-virus-spreading?srnd=premium-asia

Posted by Keyman188 > 2020-03-31 11:43 | Report Abuse

Larry Fink says economy will recover from coronavirus, ‘tremendous opportunities’ in markets

(PUBLISHED MON, MAR 30 20204:00 PM EDTUPDATED 3 HOURS AGO)

~ Larry Fink, CEO of the world’s biggest asset manager BlackRock, told shareholders that the economy will recover from the coronavirus pandemic, and when it does, there will be “tremendous opportunities” to be had.

~ “In my 44 years in finance, I have never experienced anything like this,” FInk said in an annual letter to shareholders, citing the mounting cost of the virus to human life, markets and businesses small and large.

~ “As dramatic as this has been, I do believe that the economy will recover steadily, in part because this situation lacks some of the obstacles to recovery of a typical financial crisis,” Fink said.


Larry Fink, CEO of the world’s biggest asset manager BlackRock, told shareholders that the economy will recover from the coronavirus pandemic, and when it does, there will be “tremendous opportunities” to be had.

“In my 44 years in finance, I have never experienced anything like this,” Fink said in an annual letter to shareholders, citing the mounting toll of the virus to human life, markets and businesses small and large.

“As dramatic as this has been, I do believe that the economy will recover steadily, in part because this situation lacks some of the obstacles to recovery of a typical financial crisis,” Fink said. “Central banks are moving quickly to address problems in credit markets, and governments are now acting aggressively to enact fiscal stimulus.”

Late last week, President Trump signed a historic $2 trillion stimulus bill to cushion the economic blow from the pandemic. The law expands unemployment benefits, sends $1,200 checks to individuals, offers loans to small businesses and includes a $500 billion Fed program to prop up corporations. The move follows a series of actions from the Federal Reserve to stabilize the financial markets that companies and lenders rely on.

“At BlackRock, we take a long-term view of markets, and we take a long-term view in the way we run our company,” he said. “The world will get through this crisis. The economy will recover. And for those investors who keep their eyes not on the shaky ground at our feet, but on the horizon ahead, there are tremendous opportunities to be had in today’s markets.″

BlackRock manages $7.4 trillion for clients around the world and has the industry’s biggest ETF franchise. The furious decline in stock markets this month have created an opportunity for some clients to move more into equities, Fink said. He cautioned that it is “impossible” to know if markets have bottomed and that heavily indebted companies will struggle in the weeks ahead.

“For some clients, the recent sell-off created an attractive opportunity to rebalance into equities,” Fink said. “Indeed, many of our clients – even those who generally have a heavy allocation to fixed income due to their risk profiles – are looking to increase their equity allocation in this market.”


##https://www.cnbc.com/2020/03/30/larry-fink-says-economy-will-recover-from-coronavirus.html

Posted by Keyman188 > 2020-03-31 17:17 | Report Abuse

If tonight DJIA & S&P500 no big deal with green closing....

Tomorrow very very high possibility can break 1354 level & heading to test 1388 level..........

Happy Trading All !!!!!!!!!!!!!!!!!!!...............

Posted by Keyman188 > 2020-04-04 23:10 | Report Abuse

Bilateral friendship: Malaysia & China join forces to save economy

##https://www.enanyang.my/news/20200404/白天双边友好汇集力量-br马中联手救经济/

Posted by firehawk > 2020-04-04 23:40 | Report Abuse

If tonight DJIA & S&P500 no big deal with green closing....

Tomorrow very very high possibility can break 1354 level & heading to test 1388 level..........

--------------------------------------------------

seemed like making a correct prediction is not easy .....

although very very high posibility!

Posted by Keyman188 > 2020-04-06 08:06 | Report Abuse

Bill Gates Says Virus Death Toll May Not Reach Experts’ Worst Case

(April 6, 2020, 2:58 AM GMT+8)

The coronavirus death toll in the U.S. could be “well short” of recent estimates from top health officials if social distancing measures are done properly, billionaire philanthropist Bill Gates said Sunday.

The Microsoft Corp. co-founder has called in recent days for a national lockdown to control the spread of the Covid-19 virus, something the U.S. has fallen short of so far.

Gates spoke as experts, including Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases at the National Institutes of Health, predicted a deadly week for the U.S., warned the pandemic isn’t yet under control, and suggested it could take on a seasonal nature.

Members of President Donald Trump’s health team last week suggested between 100,000 and 240,000 deaths over the next two months from the coronavirus pandemic. Gates said that wasn’t inevitable.

“If we get the testing fixed, we get all 50 states involved, we’ll be below that. Of course, we’ll pay a huge economic price,” added Gates, whose net worth is $97 billion, according to the Bloomberg billionaires list, making him the world’s second-richest person.

On CBS’s “Face the Nation,” Fauci joined Trump and Surgeon General Jerome Adams in predicting a rough week to two weeks for the U.S. as rising caseloads strain health resources in some areas and deaths continue to rise.

Bad Week
“This is going to be a bad week,” Fauci said. “Things are going to get bad and we need to be prepared for that. It is going to be shocking to some.”

Within a week or slightly more, the U.S. coronavirus curve should start to flatten, Fauci predicted.

Coronavirus cases in the U.S. surpassed 324,000 on Sunday, the world’s highest, with more than 9,000 deaths, according to figures from Johns Hopkins University.

Scott Gottlieb, former commissioner of the U.S. Food and Drug Administration, said the U.S. still lacks an “all-hands-on-deck approach” to vaccine or treatment development for Covid-19.

Absent that, there’s little hope for a “V-shaped recovery” or for the economy to rebound to more than 80% of potential, Gottlieb said on CBS.

“We need to prepare for what it looks like when you have a slower economy and more people unemployed in the fall,” said Gottlieb, special partner at New Enterprise Associates, a venture capital firm that invests in the health-care and biotech sectors.

“It is fair to say things won’t go back to truly normal until we have a vaccine,” Gates said on Fox.


##https://www.bloomberg.com/news/articles/2020-04-05/gates-says-virus-death-toll-may-not-reach-experts-worst-case?srnd=premium-asia

Posted by Keyman188 > 2020-04-06 08:08 | Report Abuse

US future early morning jumped by 300++ point after Bill Gates had commented the current Covid-19 circumstances....

Not bad......Bill Gates just talk a few words also can twist market turn to positive....

Posted by Keyman188 > 2020-04-06 08:22 | Report Abuse

Stocks are set to jump at Monday’s open, Dow futures rise more than 400 points (PUBLISHED SUN, APR 5 20206:04 PM EDTUPDATED MOMENTS AGO)

U.S. stock futures rose on Sunday night as Wall Street tried to recover from another decline last week while investors shook off rising tensions between Saudi Arabia and Russia.

Dow Jones Industrial Average futures traded more than 400 points higher, or 2.1%. S&P 500 and Nasdaq 100 futures also climbed more than 2%.

Last week, the major averages posted their third weekly decline in four. The Dow slid 2.7% while the S&P 500 lost 2.1%. The Nasdaq Composite closed last week down 1.7%. Stocks are also deep in bear-market territory as concerns over the coronavirus outbreak have virtually shut down the global economy and have dampened sentiment around corporate profits.

However, some on Wall Street think the market could start to turn a corner soon.

Billionaire investor Bill Ackman, founder of Pershing Square Capital Management, said in a series of tweets he is “beginning to get optimistic.” He said cases in New York, a hot spot for the coronavirus in the U.S., “appear to be peaking” while some treatments “appear to help.”

“If this is true, the severity and death rate could be much lower than anticipated, and we could be closer to herd immunity than projected,” Ackman also said. “While it is hard to be positive when we know that tens of thousands more will die and many more will get severely sick, I have no choice but to be more optimistic about the intermediate future based on the data and facts I have seen recently.”

Last month, Ackman called for the U.S. to completely shut down for 30 days as a way to curb the coronavirus outbreak. “Hell is coming,” Ackman told CNBC’s “Halftime Report” on March 18.

The number of coronavirus-related hospitalizations has fallen slightly in New York while discharges are up, Gov. Andrew Cuomo said Sunday. Italy also reported Sunday its smallest daily increase in deaths in two weeks.

To be sure, the number of coronavirus cases continues to increase sharply. More than 1.2 million coronavirus cases have been confirmed, according to Johns Hopkins University. The U.S. is by far the country with the most cases at over 330,000. On Saturday, Trump warned “there will be a lot of death,” noting the U.S. faces its “toughest week” in its fight against the virus.

Marc Chaikin, CEO of Chaikin Analytics, advises investors to remain cautious.

“Until the spread of the COVID-19 virus peaks and we are closer to a reopening of the U.S. economy, sell rallies and sit on your cash,” said Chaikin. “If we are fortunate to see an effective treatment there will be plenty of capital gains opportunities. For me, capital preservation is more important than capital gains.”

Stock futures shook off a massive decline in oil prices as a key meeting between major oil producing countries was delayed. U.S. crude fell more than 7% to $26.12 per barrel.

The meeting between OPEC and Russia was scheduled for Monday, but sources familiar with the matter told CNBC it will “likely” take place Thursday. The delay comes after President Donald Trump told CNBC last week he expected both countries to cut production by up to 15 million barrels.

Trump’s comments helped U.S. crude post its biggest-ever weekly gain. West Texas Intermediate futures rallied 12% last week. WTI also jumped 24% on Thursday for its best day on record, lifting equity prices that day as concern about financial and job losses in the energy sector eased.

Crude has taken a beating this year as Saudi Arabia-led OPEC and Russia failed to reach a deal on production cuts while the global spread of the coronavirus dampens the demand outlook for oil. Year to date, WTI has lost more than half of its value.


##https://www.cnbc.com/2020/04/05/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-04-06 08:33 | Report Abuse

Suddenly US (DJIA) big jumped by 600++ point....

What happen ???................

Posted by Keyman188 > 2020-04-06 08:42 | Report Abuse

Suddenly global market u-turn today...

DJIA future big jumped by almost 700 poit....

Nikkei 225 up 500++ point....

Australia up 160++ point....

Why suddenly big big u-turn???..........

Posted by Keyman188 > 2020-04-06 12:27 | Report Abuse

Maybank lead the market moving up today............

Posted by Keyman188 > 2020-04-06 13:43 | Report Abuse

Russia and Saudi Arabia are ‘very, very close’ to an oil production deal, says Russia’s Dmitriev (PUBLISHED MON, APR 6 20201:32 AM EDT)

~ The deal will bring “so much important stability to the market” and the two sides are “very close,” said Kirill Dmitriev, CEO of Russia’s sovereign wealth fund RDIF.

~ A virtual meeting between OPEC and its allies was scheduled to happen on Monday, but is now “likely” to take place on Thursday instead, sources told CNBC.

~ Dmitriev also said Russia is working closely with U.S. authorities to have American producers participate in the output cut.


Russia and Saudi Arabia are “very, very close” to a deal on oil production cuts, according to the chief executive of Russia’s sovereign wealth fund RDIF.

“I think the whole market understands that this deal is important and it will bring lots of stability, so much important stability to the market, and we are very close,” said Kirill Dmitriev, CEO of the Russian Direct Investment Fund.

A virtual meeting between OPEC and its allies was scheduled to happen on Monday, but is now “likely” to take place on Thursday instead, sources familiar with the matter told CNBC. Reductions in oil output were expected to be discussed at the meeting.

Oil futures both fell on Monday morning in Asia, with U.S. West Texas Intermediate crude down 3.63% at $27.31 and Brent crude losing 2.05% to trade at $33.41.

Dmitriev pointed to comments by Russian President Vladimir Putin last week when he proposed a combined production cut of 10 million barrels per day, according to a Reuters report.

″(Putin) talked about how important this oil deal is, so Russia is committed,” Dmitriev told CNBC’s “Capital Connection” on Monday.

He added that Russia is working closely with U.S. authorities to have American producers participate in the output cut.

“I think it’s Russia, Saudi Arabia, U.S., other countries that need to step in to stabilize the markets and to bring stability in the world that is about to see probably the greatest recession ever.”


##https://www.cnbc.com/2020/04/06/russia-saudi-arabia-are-very-close-to-an-oil-production-deal-rdif.html

Posted by Keyman188 > 2020-04-06 14:02 | Report Abuse

“People have to remember that, if you wait around for these theme parks (Disney Theme Park) to go back to full scale, up and running, with everything, all the people coming back, the stocks will have already bounced,” Maley added. “Always remember that the stocks always bounce long before the fundamentals go back to normal.”


##https://www.cnbc.com/2020/04/03/disney-shares-are-a-buy-if-they-fall-to-this-level-technical-analyst-says.html?&qsearchterm=matt%20maley



^^^I love this Fund Manager comments.......

Posted by Keyman188 > 2020-04-06 14:14 | Report Abuse

Stocks are set to jump, with Dow futures pointing to 900 point gain

PUBLISHED SUN, APR 5 20206:04 PM EDTUPDATED MOMENTS AGO

U.S. stock futures rose on early Monday morning as Wall Street tried to recover from another decline last week.

Dow Jones Industrial Average futures traded 872 points higher, implying a gain of about 906 points at the Monday open. S&P 500 and Nasdaq 100 futures also pointed to robust Monday opening gains for the two indexes.


##https://www.cnbc.com/2020/04/05/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-04-06 22:32 | Report Abuse

El-Erian foresees more volatility but finds Monday’s rally on medical news encouraging

PUBLISHED MON, APR 6 20209:11 AM EDT

~ Economist Mohamed El-Erian said he finds Monday’s rally in stock futures encouraging because the optimism is fueled by developments around the coronavirus.  

~ “I am feeling better. We’re having a bounce on medical issues, not on policy issues, not on technical issues,” El-Erian told CNBC.

~ “I’ve always said it’s a medical solution that forms a bottom for this market,” he added.


Economist Mohamed El-Erian said he finds Monday’s rally in stock futures encouraging because the optimism is fueled by positive developments around the coronavirus.  

“I am feeling better,” El-Erian said on CNBC’s “Squawk Box.” “We’re having a bounce on medical issues, not on policy issues, not on technical issues.”  

U.S. stock futures were indicating a strong open Monday: Dow futures pointed to a gain of more than 700 points, up more than 3%. Futures for the S&P 500 and Nasdaq also were pointing to similar percentage gains. 

Stocks finished lower last week, their third weekly decline in four. The Dow finished down 2.7% while S&P 500 lost 2.1%. 

Some positive signs around the progression of the COVID-19 pandemic emerged over the weekend, including the first daily decline in coronavirus-related deaths in New York, the epicenter of the U.S. outbreak. Slowing death rates in Europe also offered hope to investors. 

“It’s about people, fewer people dying, fewer people getting infected,” El-Erian said. “I’ve always said it’s a medical solution that forms a bottom for this market.” 

El-Erian, chief economic advisor at Allianz, said the second reason he feels good about Monday’s bounce is because it shows “the ability of this market to get ahead of what the economists are saying.” 

El-Erian has for weeks been urging investors to approach the coronavirus with caution, pointing to unprecedented levels of uncertainty. Last week, he told CNBC the market could still set new lows.

El-Erian on Monday repeated his belief that more uncertainty lies ahead, saying Monday’s positive moves are “a bright spot in an otherwise still gloomy picture.”  

“I think that we need more than just one spot. I still think that the overall paradigm is going to be like last week — volatile around a downward trend,” he said. 


##https://www.cnbc.com/2020/04/06/coronavirus-el-erian-encouraged-by-mondays-rally-on-medical-news.html

Posted by Keyman188 > 2020-04-07 00:52 | Report Abuse

Yellen says the Fed doesn’t need to buy equities now, but Congress should reconsider allowing it

PUBLISHED MON, APR 6 202010:54 AM EDTUPDATED AN HOUR AGO

~ “I frankly don’t think it’s necessary at this point ... but longer term it wouldn’t be a bad thing for Congress to reconsider the powers that the Fed has with respect to assets it can own,” Yellen told CNBC’s Sara Eisen.

~ Normally, the Fed is only allowed to own government debt and agency debt with government backing, Yellen said.

~ The central bank has also received special powers during the coronavirus outbreak to buy other assets such as corporate debt through exchange-traded funds.

~ Still, “the Fed ... is far more restricted than most other central banks,” Yellen said.


Former Federal Reserve Chair Janet Yellen thinks the central bank is not in a position where it needs to buy equities but thinks lawmakers should give it more leeway for the future. 

“It would be a substantial change to give the Federal Reserve the ability to buy stock,” Yellen told CNBC’s Sara Eisen on “Squawk on the Street.” “I frankly don’t think it’s necessary at this point. I think intervention to support the credit markets is more important, but longer term it wouldn’t be a bad thing for Congress to reconsider the powers that the Fed has with respect to assets it can own.”

Normally, the Fed is only allowed to own government debt and agency debt with government backing, Yellen said. The central bank has also received special powers during the coronavirus outbreak to buy other assets such as corporate debt through exchange-traded funds. The Fed has also cut rates to zero and launched an unlimited quantitative easing program to help stabilize markets. Still, the Fed would need additional authority to buy stock exchange-traded funds. 

Other central banks — including the Bank of Japan — have been purchasing some of their countries’ stocks to mitigate the recent carnage sparked by the coronavirus outbreak. 

“The Fed ... is far more restricted than most other central banks,” Yellen said. “Even with respect to owning corporate debt, the Fed is not allowed to directly own corporate debt and most other central banks are.”

Yellen’s remarks came as the number of coronavirus cases around the world nears 1.3 million, according to Johns Hopkins University. In the U.S. alone, more than 330,000 cases have been confirmed. 

To be sure, New York — the state with the most confirmed cases — reported fewer deaths on Sunday than on Saturday as well as a decline in hospitalizations. Some countries in Europe also saw a slower death rate over the weekend. 

This helped lift equity prices around the world. However, even after Monday’s rally of more than 4% for the S&P 500, the broad market average is still down over 20% from a record set late February. The equity landscape outside of the U.S. is just as grim. The iShares MSCI ACWI ex-U.S. (ACWX) ETF, which tracks stocks outside of the U.S., is down more than 20% year to date. 


##https://www.cnbc.com/2020/04/06/yellen-says-the-fed-doesnt-need-to-buy-equities-now-but-congress-should-reconsider-allowing-it.html

Posted by Keyman188 > 2020-04-07 00:54 | Report Abuse

Stock market live updates: Dow rises 1,200, up 20% from low, Yellen’s shocking forecast

PUBLISHED MON, APR 6 20207:46 AM EDTUPDATED MOMENTS AGO



##https://www.cnbc.com/2020/04/06/stock-market-live-updates-dow-futures-up-750-nasdaq-futures-up-4percent-bottom-in.html

Posted by Keyman188 > 2020-04-07 17:22 | Report Abuse

Buy Malaysian stocks at rare crisis-level valuations, Areca says

(Bloomberg / Bloomberg April 07, 2020 16:42 pm +08)


KUALA LUMPUR (April 7): Value has emerged in Malaysian equities battered by the global pandemic, offering investors a chance to hunt for bargains, according to Areca Capital Sdn Bhd Chief Executive Officer Danny Wong Teck Meng.

“It is a rare opportunity to pick up stocks at crisis-level valuations without being in an actual financial crisis,” he said. “Pandemics come and go, markets eventually go past it and move on.”

The FTSE Bursa Malaysia KLCI Index sank 15% in the first quarter amid a global rout. Valuations are near their cheapest in almost a decade. The gauge has climbed more than 11% from a March 19 low. Local institutional funds bought a net US$1.1 billion of shares in March while foreign investors were net sellers, stock exchange data show.

He also said there will unlikely be a major sell-down of foreign funds going forward as overseas holdings are at an all-time low following a streak of outflows over the past few years. International funds have dumped a net US$1.9 billion worth of shares so far this year, Bloomberg-compiled data show.

Malaysia’s market is quite attractive, with the KLCI now priced in two standard deviation below 10-year mean in terms of price-to-book value and price-to-earnings ratios, Wong said.


##https://www.theedgemarkets.com/article/buy-malaysian-stocks-rare-crisislevel-valuations-areca-says

Posted by Keyman188 > 2020-04-09 00:38 | Report Abuse

Cramer says he and hedge fund billionaire David Tepper are confused by the market’s recent rally

PUBLISHED WED, APR 8 202011:30 AM EDTUPDATED MOMENTS AGO

~ CNBC’s Jim Cramer said Wednesday that he and hedge fund billionaire David Tepper are not sure why the stock market has rallied in recent days.

~ “I spoke to Dave Tepper yesterday and we were both kind of marveling, ‘Jeez it’s been bullish. Why?’” Cramer said on “Squawk on the Street.”

~ “There’s a curious disconnect between when you speak to the companies, most of which are closed, and what’s going on in the market,” he added.


CNBC’s Jim Cramer said Wednesday that he and hedge fund billionaire David Tepper are not sure why the stock market has rallied in recent days while the coronavirus pandemic continues to upend daily life in the U.S.

“I spoke to Dave Tepper yesterday and we were both kind of marveling, ‘Jeez it’s been bullish. Why?’” Cramer recalled on “Squawk on the Street.”

Cramer’s comments came shortly after Wednesday’s open on Wall Street, which saw the Dow Jones Industrial Average rallying one day after a more than 900-point advance completely fizzled by the close.

While still in a bear market, the Dow as of Tuesday’s close gained about 24% since its coronavirus-driven March 23 low. A bear market is defined as a decline of at least 20% from recent 52-week highs. The Dow hit an all-time high in February before state stay-at-home orders around the nation went into effect.

In the past couple weeks, investors have been responding to bits of optimistic news in the fight against the coronavirus, including recent signs that new cases in the U.S. may be starting to slow.

“There’s a curious disconnect between when you speak to the companies, most of which are closed, and what’s going on in the market,” Cramer said. “I keep thinking maybe the market knows something we don’t.”

Cramer has often referenced interviewing Tepper in early February as a key moment in his understanding of the coronavirus. The founder of Appaloosa Management said then that the virus could be a “game-changer” for financial markets.

The “Mad Money” host also expressed caution Tuesday about the market’s bounce, contending he thought Wall Street was more optimistic about a return to something resembling normal life than most Americans. 

“There is a happy days are here again Wall Street impression versus what I hear ... people saying, ‘Can I get a mask? How do I get a mask? Do I want an N95?’” Cramer said then. “I don’t want to risk it. I think America doesn’t want to risk it.”


##https://www.cnbc.com/2020/04/08/cramer-says-he-and-david-tepper-confused-by-the-market-recent-rally.html

Posted by Keyman188 > 2020-04-09 08:37 | Report Abuse

Today "Kosong" candlestick patterns........

Be Alert...................................

Posted by Keyman188 > 2020-04-09 22:04 | Report Abuse

Stock rally builds steam to end the week, Dow now up 500 points

PUBLISHED WED, APR 8 20206:06 PM EDTUPDATED MOMENTS AGO

Stocks jumped on Thursday after the Federal Reserve gave more details on how it will support the economy amid the coronavirus pandemic. 

The Dow Jones Industrial Average jumped 500 points, or 2.1%. The S&P 500 gained 2% while the Nasdaq Composite advanced 1.6%. Thursday’s gains put the major averages on pace for strong weekly gains. The U.S. stock market will be closed Friday due to Good Friday. 

The Fed announced as slew of programs, including loans geared towards small and medium sized businesses, that will total up to $2.3 trillion. The central bank also gave more details on its plans to buy investment-grade and junk bonds. 

“This Fed is the most aggressive Fed. They do not want to be known as the reason why we went into a depression,” CNBC’s Jim Cramer said on “Squawk Box” on Thursday. “I’m very impressed. The Fed is on its game and this is what is needed because we got to fight off a depression, we got to get America open for business.”

Thursday’s announcement was enough to outweigh another massive jump in weekly jobless claims. 

More than 6 million Americans filed for unemployment benefits last week. Economists expected an increase of 5 million. The latest data built on the record-shattering prior two readings of 6.6 million and 3.3 million. 

Major weekly gains

The Dow was up more than 12.9% for the week after Thursday’s open, putting the 30-stock average on pace for its biggest weekly gain since 1938. The S&P 500 was up 12.1% week to date, on pace for its best week since 2008. The Nasdaq had gained 10.9% and was headed for its best weekly performance since 2008. 

Wall Street’s weekly surge comes amid increasing hope that the situation around the coronavirus was improving. In recent days, the number of new daily confirmed cases has dropped globally and in the U.S. New York state has also reported a decline in its virus-related hospitalization rate. 

But some believe that stocks are now getting ahead of themselves and investors should exercise caution. 

“I think this is kind of buy the rumor and potentially we sell the news when reality sets in of what we are going to see what’s on the other side,” billionaire investor Mark Cuban said Wednesday on CNBC’s “Closing Bell.” 

“I think people are naturally optimistic right now in terms of the market. I just don’t think they’re really factoring in what we’re going to see on the other side,” he added.

After Thursday’s rally, the Dow is up more than 30% from its March low and the Nasdaq is down 9% this year.

“The stock market is at a very uncertain point now. The impact of the coronavirus on future earnings is yet to be determined. We aren’t out of the woods,” said Nancy Davis, chief investment officer at Quadratic Capital.


##https://www.cnbc.com/2020/04/08/stock-market-futures-open-to-close-news.html

Posted by Jokers2020 > 2020-04-09 22:07 | Report Abuse

Bull market is back..get ready

Posted by Keyman188 > 2020-04-09 22:17 | Report Abuse

Powell says the economic recovery can be ‘robust’ after the coronavirus is contained

(PUBLISHED THU, APR 9 202010:00 AM EDTUPDATED MOMENTS AGO)

Federal Reserve Chairman Jerome Powell said Thursday that the economic rebound following the coronavirus-induced shutdown “can be robust” despite the sharp downturn.

In the meantime, he said the central bank is committed to doing whatever it can to support the flow of cash to businesses and households both through a plethora of financing programs and by keeping interest rates anchored near zero.

Powell spoke during a webinar for the Brookings Institution the same morning that the Fed announced a new $2.3 trillion financing initiative directed at small and larger businesses as well as households and state and local governments.

“At the Fed, we are doing all we can to help shepherd the economy through this difficult time,” he said in prepared remarks. “When the spread of the virus is under control, businesses will reopen, and people will come back to work. There is every reason to believe that the economic rebound, when it comes, can be robust.”

The economy received more bad news Thursday morning as weekly jobless claims hit 6.6 million, just a shade below the previous week’s record high.

Nevertheless, Powell pointed out that the economy has been strong before prevention efforts aimed at halting the coronavirus spread put a large share of the U.S. productive capacity offline.

“We entered this turbulent period on a strong economic footing, and that should help support the recovery,” he said. “In the meantime, we are using our tools to help build a bridge from the solid economic foundation on which we entered this crisis to a position of regained economic strength on the other side.”

But he added that while the Fed has worked to provide loans, Congress likely will have to provide direct cash injections to those areas of the economy that need it.

He also reiterated the Fed’s pledge to keep borrowing costs low as the efforts to stabilize the economy and subdue the virus continue.

“We have also committed to keeping rates at this low level until we are confident that the economy has weathered the storm and is on track to achieve our maximum-employment and price-stability goals,” he said.


##https://www.cnbc.com/2020/04/09/fed-chair-powell-says-the-economic-recovery-can-be-robust-after-coronavirus.html

Posted by Keyman188 > 2020-04-09 22:54 | Report Abuse

Oil jumps 12% amid report Saudi Arabia and Russia have reached a deal, cut could reach 20 million barrels per day

PUBLISHED THU, APR 9 20208:59 AM EDTUPDATED MOMENTS AGO

Oil prices jumped on Thursday on reports that Saudi Arabia and Russia have reached a deal on a deep output cut, according to Reuters which cited two sources, and that cuts could reportedly be as high as 20 million barrels per day.

The reported deal comes as a virtual meeting between OPEC and its allies, known as OPEC+, kicked off in which some of the world’s largest producers were set to discuss production policy as the coronavirus pandemic saps demand for crude.

U.S. West Texas Intermediate jumped 12% to trade at $28.36 per barrel, while international benchmark Brent crude rose 8.5% to trade at $35.79 per barrel.

“We’re optimistic that they’ll reach an agreement between the Saudis and Russians in an effort to stabilize the markets,” U.S. Energy Secretary Dan Brouillette said Thursday on CNBC’s “Squawk Box” ahead of the meeting. “I think they can easily get to 10 million, perhaps even higher, and certainly higher if you include the other nations who produce oil, nations like Canada and Brazil and others. Easily, easily done,” he added.

The virtual meeting, which was initially planned for last Monday, began around 10 a.m. ET. President Donald Trump had fueled hopes of a cut far larger than any deal OPEC+ has ever agreed on before, suggesting the energy alliance could take between 10 million to 15 million barrels of crude off the market.

The meeting comes as relations between some of the world’s largest producers has grown fraught, and Saudi Arabia and Russia have signaled that any cut would need to include action from non-OPEC nations such as the U.S., Canada and Norway.

“OPEC+ is trying mightily to cobble together a sizable production cut, and they are in full spin mode to try and rally prices,” Again Capital’s John Kilduff told CNBC. The “teleconference will be a make-or-break moment for the oil market. The math on a 10 million barrel per day cutback, which is the minimum necessary to stabilize the situation, is almost impossible to compute.”

Energy ministers from the Group of 20 major economies will convene for their own extraordinary meeting on Friday, in which Energy Secretary Dan Brouillette will participate.

The G-20 presidency said Tuesday that the meeting would be held “to foster global dialogue and cooperation to ensure stable energy markets and enable a stronger global economy.”

When it comes to U.S. energy companies, Trump has commented that market forces will prevail, and on Wednesday said that producers have “already cut way back.” Brouillette echoed this on Thursday, telling CNBC that the “demand downturn has led to production cuts in the United States of about 2 million barrels per day thought the reminder of 2020.”

RBC global head of commodities research Helima Croft said she believes the chances “are greater than even” that “a broad framework agreement to curb output by a big headline number” can be achieved, but noted that “the situation remains extremely fluid.” 

“There are several land mines lurking right below the surface that could still blow up the negotiations at the 11th hour,” she said in a note to clients Thursday.

But even if a deal is reached, many argue that prices will stay lower for longer due to the unprecedented demand destruction caused by the coronavirus. In other words, the supply side is a secondary story to the demand hit.

“Even if a production-cut agreement is reached, which will surely give prices a short-term boost, we believe the enthusiasm will subside at some point and the reality of the size of the demand’s imbalance will eventually hit the market,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy.


##https://www.cnbc.com/2020/04/09/oil-jumps-ahead-of-make-or-break-opec-meeting.html