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The Water Cooler
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Nasdaq hit the circuit breakers against this morning; going up
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<blockquote data-quote="SlugSlinger" data-source="post: 3342837" data-attributes="member: 7248"><p>Every time I post positive news, the market drops. So I hope you sold. </p><p></p><p></p><p><span style="font-size: 22px"><strong>Stocks cap biggest three-day surge since 1931</strong></span></p><p>Mar. 26, 2020 4:30 PM ETBy: Carl Surran, SA News Editor<a href="https://seekingalpha.com/news/3555666#comments" target="_blank">39 Comments</a></p><ul> <li data-xf-list-type="ul">Stocks soared into the close to cap the market's first three-day rally in more than a month and its biggest three-day gain since 1931: Dow +6.4%, S&P +6.2%, Nasdaq +5.6%.</li> <li data-xf-list-type="ul">The move was at least partly sparked by the U.S. Senate's passage of the $2T economic stimulus plan and sending the bill to the House, where Speaker Pelosi said she expected a "strong bipartisan vote."</li> <li data-xf-list-type="ul">Investors shook off dismal data on U.S. monthly initial jobless claims, which surged to a record 3.28M last week, as businesses shut down to help prevent the spread of the coronavirus.</li> <li data-xf-list-type="ul">"The deeper and the worse the numbers are in the near term, the more possibility there is for a [fiscal] response, which <a href="https://www.wsj.com/articles/global-stock-markets-dow-update-3-26-2020-11585196225" target="_blank">powers the rebound</a>," says Charles Schwab chief global investment strategist Jeffrey Kleintop.</li> <li data-xf-list-type="ul">Boeing, Chevron and Walgreens each jumped more than 10% to drive the Dow's outsized gains, while utilities and real estate rallied more than 7% as the top performing sectors on the S&P 500.</li> <li data-xf-list-type="ul">U.S. Treasury prices rose, sending the two-year yield down 4 bps to 0.26% and the 10-year yield 5 bps lower to 0.81%.</li> <li data-xf-list-type="ul">WTI crude oil sank 7.7% to $22.60/bbl,</li> </ul></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3342837, member: 7248"] Every time I post positive news, the market drops. So I hope you sold. [SIZE=6][B]Stocks cap biggest three-day surge since 1931[/B][/SIZE] Mar. 26, 2020 4:30 PM ETBy: Carl Surran, SA News Editor[URL='https://seekingalpha.com/news/3555666#comments']39 Comments[/URL] [LIST] [*]Stocks soared into the close to cap the market's first three-day rally in more than a month and its biggest three-day gain since 1931: Dow +6.4%, S&P +6.2%, Nasdaq +5.6%. [*]The move was at least partly sparked by the U.S. Senate's passage of the $2T economic stimulus plan and sending the bill to the House, where Speaker Pelosi said she expected a "strong bipartisan vote." [*]Investors shook off dismal data on U.S. monthly initial jobless claims, which surged to a record 3.28M last week, as businesses shut down to help prevent the spread of the coronavirus. [*]"The deeper and the worse the numbers are in the near term, the more possibility there is for a [fiscal] response, which [URL='https://www.wsj.com/articles/global-stock-markets-dow-update-3-26-2020-11585196225']powers the rebound[/URL]," says Charles Schwab chief global investment strategist Jeffrey Kleintop. [*]Boeing, Chevron and Walgreens each jumped more than 10% to drive the Dow's outsized gains, while utilities and real estate rallied more than 7% as the top performing sectors on the S&P 500. [*]U.S. Treasury prices rose, sending the two-year yield down 4 bps to 0.26% and the 10-year yield 5 bps lower to 0.81%. [*]WTI crude oil sank 7.7% to $22.60/bbl, [/LIST] [/QUOTE]
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