1 / 2Financial Markets Wall StreetIn this image provided by Jay Woods, Woods, a Designated Market Maker with IMC and NYSE Floor Governor, who normally works on the New York Stock Exchange trading floor, works in his home office in Basking Ridge, N.J., Thursday, March 26, 2020. Stocks are opening lower on Wall Street, Friday, March 27, as the market gives back some of the gains it piled up over the past three days. Stocks rallied this week as Washington acted to provide $2.
A lot will depend on how badly the coronavirus outbreak stalled the U.S. economy. The government reported a historic spike in applications for unemployment benefits this week and more grim numbers are expected in the weeks ahead. Wall Street has been slashing its estimates for company profits even as the companies themselves say little publicly about the impact on their bottom lines.
Besides the chance to buy companies seen as oversold, the overall downturn in the markets in recent weeks is creating good opportunities for investors to buy into sectors of the market that will be “prevalent” for the next decade, said Solita Marcelli, deputy chief investment officer, Americas, at UBS Global Wealth Management. That includes e-commerce and technology companies that focus on things like gene therapies.
The push to deliver financial relief took on more urgency as the outbreak widened. The number of cases in the U.S. has surpassed those in China and Italy, climbing to more than 104,000 known cases, according to Johns Hopkins University. The worldwide total has topped 607,000, and the death toll has climbed to more than 28,000, while more than 130,000 have recovered.
sure makes me feel all warm and fuzzy inside . how bout ya ?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks open lower on Wall Street following a big 3-day rallyStocks fell Friday morning on Wall Street as investors waited for Congress to deliver a big financial rescue package aimed at cushioning ailing businesses and households from the coronavirus... Quick shovel more bodies into the volcano to appease the Market Gods! Suckers getting fleeced. *AGAIN* They'll never learn. flattening the curve, so to speak.
Source: AP - 🏆 728. / 51 Read more »
Wall Street analysts upgrade stocks like Boeing and Home Depot on hopes the market has bottomedNew for subscribers: Wall Street analysts upgrade stocks like Boeing and Home Depot on hopes the market has bottomed Check out CNBCPro and get your first 30 days free. Pro Sell signal Pro It hasn’t. The market is stupid. Pro I like how these stocks are being upgraded and downgraded every week, as if there’s a strong indication that there is any logic in the market right now.
Source: CNBC - 🏆 12. / 72 Read more »
Why this wild coronavirus rally has Wall Street experts fearing a bull-market trapBlink and you may have missed it — the Dow Jones Industrial Average is in a bull market, reached on a day when data showed a record number of people filing...
Source: MarketWatch - 🏆 3. / 97 Read more »
Elevated Wall Street 'fear gauge' shows doubts about stock market reboundInvestors hoping for calm to return to U.S. stocks will not find much comfort in Wall Street's fear gauge known as the VIX, which shows some market participants are bracing for more turbulence despite this week's bounce. Does it though? Speculating in this market when Trump can't even consider making a rational decision or telling the truth is a fools errand. Better to just wait it out. :-).
Source: Reuters - 🏆 2. / 97 Read more »
Coronavirus Fallout Could Cut Wall Street Bonuses as Much as 40%, Expert SaysPrivate-equity firms and the rest of Wall Street could see a 30% to 40% drop in bonuses as the coronavirus bites into everything from asset values to deal flow, a compensation consultant predicted. Not with the package they are getting the government to give them. But if that fails the news will help them push people back to work to creat more wealth for them Boo hoo It better goddamn fall by that and a helluva lot more; I get a little tired of everyone having to make sacrifices during these crises except for the people who have near-infinite resources and could lose most of it and still be vastly better off than everyone else
Source: WSJ - 🏆 98. / 63 Read more »
Stocks Fall, Ending 3-Day Rally, As Wall Street Weighs Possible Delay Of $2 Trillion Stimulus BillThe market was down on Friday, after rising more than 20% earlier this week. RepThomasMassie For one man’s self recognition, happy to loose your country . Get out of the parliament into the hospitals that’s trying to save lives. See for yourself what you are stopping, *saving lives*. Can you Face the deaths that are mounting every minute.
Source: Forbes - 🏆 394. / 53 Read more »