The Dow Jones posted its biggest weekly gain since 1938, paring some of the losses of recent weeks, as lawmakers agreed to the largest economic-relief package in U.S. history in response to the coronavirus pandemic. Major U.S. stock indexes posted double-digit gains for the week — with the Dow surging 13% and the S&P 500 climbing 10% — but remain down more than 20% in 2020.
U.S. stocks roared higher Thursday, closing up for the third day in a row despite a report from the Labor Department that showed unemployment claims soared to a record 3.28 million last week, as the coronavirus pandemic shut down businesses across the nation.
The Dow Jones Industrial Average on Wednesday booked its first back-to-back gains in about seven weeks as investors have waded back into a battered market, but stocks lost ground in the final few minutes of trade as problems cropped up in the last leg of passage of a $2 trillion coronavirus rescue package. Sen. Bernie Sanders of Vermont, an independent, threatened to delay the bill over a key unemployment-insurance proposal.
The Dow Jones surged more than 11% Tuesday, its biggest one-day gain since 1933, on signs that lawmakers were nearing a deal on a giant stimulus package to ease the economic fallout from the coronavirus pandemic.
Stocks dropped in another wild session Monday as U.S. lawmakers failed for a second day to pass a rescue package to ease the blow from the coronavirus pandemic. Senate Democrats and Republicans remained at odds over a stimulus package worth at least $1.6 trillion, stirring anxiety among investors who remain anxious for aid at a time when a recession appears imminent.
The idea behind this SMI indicator, popularized by money manager Don Hays and existing with many variations, is that emotional trading takes place at the beginning of the trading day (as traders react to overnight news event and economic releases) while the “smart money” takes the day to evaluate price action and input their orders before the market closes.
U.S. stocks fell Friday as fresh measures to contain the coronavirus pandemic spooked investors, capping off the worst week for the Dow Jones Industrial Average and S&P 500 since October 2008. Major indexes opened higher but pulled back after New York Gov. Andrew Cuomo ordered the state’s workforce to stay home. California and Illinois have issued similar edicts. Stocks sank further after the Trump administration said U.S. borders with Mexico and Canada would be closed to nonessential travel.
Developed by Sherman and Marian McClellan, the McClellan Summation Index is a breadth indicator derived from the McClellan Oscillator, which is a breadth indicator based on Net Advances (advancing issues less declining issues). NYSI dropped below December’18 lows this week and recorded -1183 reading on Friday. The question that I want to investigate, how low can the NYSI indicator fall?
U.S. dollar index at three year high. If the U.S. dollar continues to surge, that might mean more pain for emerging markets until the global spread of the COVID-19 pandemic and the accompany market volatility begins to subside, despite the Federal Reserve’s efforts to respond to a seemingly insatiable global demand for dollars.
Stocks, bonds and commodities fell Wednesday in a simultaneous selloff as investors scrambled to raise cash to buffet themselves against the widening economic damage caused by the coronavirus pandemic. The Dow Jones closed below 20000 for the first time since early 2017, the yield on the one-month U.S. Treasury bill briefly turned negative for the first time in almost five years, and oil prices tumbled to the lowest level since 2002.