Investors seem to be taking a wait-and-see approach to the markets right now, after a bumpy evening where a Presidential tweet and commitment of economic support seemingly sent traders to smash buy buttons before realizing that there was no new substance behind Monday’s night moves.
Economies around the world are in for a rough ride as businesses shut down and social distancing measures take effect to limit the spread of the novel coronavirus, which is already a global pandemic and an epidemic in the US. After their worst day of trading since 1987, stocks rose sharply in overnight trading. The pattern of shares falling sharply, followed by a rebound of sorts continues, then, as traders continue to look for signals amidst the global noise; how to value one promise of further government stimulus, for example, against more border shutdowns and bad corporate news is now daily labor.But as stocks opened domestically, they did manage slight gains, a welcome sight after yesterday’s sharply negative trading. Here’s the morning report at the open:
- Dow Jones Industrial Average: rose 314.81 to 20,503.33 for a gain of
- S&P 500: rose 52.91 to 2,439.04 for a gain of
- Nasdaq Composite: rose 147.45 to 7,052.05 +147.45 for a gain of