tyb
Market on Close- the numbers
DOW -442.91 (-1.85%)
NASDAQ -122.56 (-1.44%)
SP500 -62.70 (-2.20%)
Oil prices sank after the International Energy Agency (IEA) forecast a 29-million-barrel per day dive in April crude demand to levels not seen in 25 years and said no output cut could fully offset the near-term decline facing the market- it has clawed some of this back in the latter half of the session-see cap#3-but still finished at an 18yr low. Shares on Wall Street followed European stocks lower as a raft of dour earnings from U.S. banks and a slide in listed oil heavyweights in London and Paris due to the outlook for crude prices pushed major stock indexes lower. U.S. retail sales plunged 8.7% last month, the biggest decline since the government started tracking the series in 1992, while manufacturing output dropped by the most in just over 74 years in March. Volumes on all index(s) are well below daily's and there was a decent rush of volume heading to the closing bell-see circle on cap#2. Much of today's action was because of the dollar index movement earlier in the session. See cap#5. 5 day sees it at -.58% and 1 month is -1.61%.
The retail sales data set U.S. consumer spending up for its worst decline in four decades.
what did anyone expect being effectively shut down for this amont of time??
Bank of America fell 6.5%, Citigroup Inc lost 5%, JP Morgan down about 5% and Morgan Stanley down about 3.5% heading into the close and Wells Fartgo is down almost 6%. The big banks have all increased the loan-loss provisions for credit defaults in a very LARGE way. This is impacting the equity prices.
The bond complex, specifically the 10 yr Treasry note had yields hammered to day- 10yr yield down @ 0.6380-0.1140 (-15.16%) see cap#4.
Some Additional headlines
Harley-Davidson lays off staff, cuts salaries, amid chinavirus outbreak
https://www.reuters.com/article/us-health-coronavirus-harley-davidson/harley-davidson-lays-off-staff-cuts-salaries-amid-coronavirus-outbreak-idUSKCN21X2UE
G20 countries agree debt freeze for world's poorest countries
https://www.reuters.com/article/us-health-coronavirus-g20-statement/g20-countries-agree-debt-freeze-for-worlds-poorest-countries-idUSKCN21X29A
Best Buy to furlough 51,000 hourly U.S. store employees
https://www.reuters.com/article/us-health-coronavirus-best-buy/best-buy-to-furlough-51000-hourly-u-s-store-employees-idUSKCN21X27K
https://www.marketwatch.com/investing/bond/tmubmusd10y
https://www.marketwatch.com/investing/index/dxy
https://finance.yahoo.com/quote/%5EDJI?p=^DJI
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
GRZLY50 C-560 west from Miramar and holding off-shore and GRZLY39 C-560 back at Miramar from touch and go's at Castle AFB Atwater
yes..now. not in 2018 much though. not the only one either.
it's better now. spouse has much to do with that though.