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Stock Futures Hit "Down Limit"- Trading suspended- Market awaiting stimulus package
CNBC ^ | 03-22-2020 | Staff

Posted on 03/22/2020 3:30:03 PM PDT by NRx

U.S. stock futures opened sharply lower on Sunday night as Wall Street waits on Washington to agree to an economic stimulus and rescue plan to combat the giant economic blow from the coronavirus outbreak.

Dow Jones Industrial Average futures fell more than 900 points, or 5%, to hit their “limit down” level. S&P 500 and Nasdaq 100 futures were also down around 5%. Downside limits to futures contracts are implemented to ensure orderly market behavior.

U.S. crude futures also slid by more than 4%, adding to last week’s massive losses.

Futures could be highly volatile as headlines come out of a coronavirus task force news conference Sunday evening and as traders await news on a stimulus bill agreement (or lack of one).


TOPICS: Business/Economy
KEYWORDS: covid19stockmarket; futures
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To: central_va

US Dollars right now are the world’s safest investment.


61 posted on 03/22/2020 5:39:53 PM PDT by dfwgator (Endut! Hoch Hech!)
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To: NRx

Fortunately, we have a President who understands the needs of business and will be trying to get people back to work as soon as possible.

A Democrat president, in contrast, would now be nationalizing several industries, some to save (airlines, cruise lines), some to put to work for the government making needed medical equipment and supplies (car and drug companies) and some just because they’ve always wanted to do so (all healthcare companies).

If the hydroxychloroquine treatment proves effective, and I’m optimistic that it will, we could resume normal activity as soon as the current testing-induced surge in new cases starts leveling off, which could happen in a week or two given all the quarantining now going on. Then, we tell the most at-risk to isolate, or even give them the drug as a preventative if it turns out to have promise in that regard. Those less at risk will either have already been exposed and not contracted it, or will have had a mild case, or will get a new case and be treated effectively as needed. It will be like flu season, finally.

And if it goes that way, stocks won’t get back to the old highs anytime soon, but they’ll be way off the lows in a matter of days. The question, of course, is what will the eventual lows be?


62 posted on 03/22/2020 5:43:31 PM PDT by Norseman (Defund the Left....completely!)
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To: JoSixChip

but ya know its all a lie....everybody is going to die from this virus so I am told on fearepublic....


63 posted on 03/22/2020 5:44:24 PM PDT by cherry
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To: dfwgator

Greed will not let the gamers sit on cash very long. It will go somewhere. Look for an asset bubble somewhere else. I say real estste.


64 posted on 03/22/2020 5:44:55 PM PDT by central_va (I won't be reconstructed and I do not give a damn....)
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To: central_va

The low interest rates will keep Real Estate prices afloat for awhile. Also there won’t be too much construction going on during this.

Sucks if you bought a house and are having it built expecting it to be ready by a certain time.


65 posted on 03/22/2020 5:46:06 PM PDT by dfwgator (Endut! Hoch Hech!)
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To: NRx

I would add this. Markets anticipate. They won’t wait around for good news to be obvious. That’s why it will, in my opinion, be worth paying really close attention to how the hydroxychloroquine treatment progresses. A few days of consistently good reports might be all it takes, even if new cases are still going up at a fast rate.

As an aside, if all this happens, President Trump will be looking pretty good for pushing this treatment from the top as early as he did. He gave the medical community a lot of cover the first time he brought it up, and continues to do so every day.


66 posted on 03/22/2020 5:48:13 PM PDT by Norseman (Defund the Left....completely!)
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To: central_va

Government and state pensions payouts due, life insurance, claims.
And there’s not enough now. Contributions may have to go up, and non performing CDOs.


67 posted on 03/22/2020 5:51:25 PM PDT by Varsity Flight (QE 2. All Quiet on the Western Front)
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To: central_va

Well, he could buy what the other guy sold, for starters. In essence, that’s exactly what happens when you look at all the buyers and sellers in aggregate. People are just moving money around, but at the end of the day, someone still owns all the stocks and bonds that were outstanding at the start of the day.


68 posted on 03/22/2020 5:51:54 PM PDT by Norseman (Defund the Left....completely!)
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To: cherry

You know, I’ll bet that if you examine the posts of a hundred different posters in here, you’ll find a much larger number are saying the same thing you are, and only a small number who are panicking.

Just an observation. Maybe wrong. But people keep saying what you just said, over and over again.


69 posted on 03/22/2020 5:54:05 PM PDT by Norseman (Defund the Left....completely!)
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To: Norseman

Jesus Lord, it is not hard to understand, the sellers have cash, a lot of cash. IT WILL GO SOMEWHERE.


70 posted on 03/22/2020 5:54:34 PM PDT by central_va (I won't be reconstructed and I do not give a damn....)
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To: dfwgator
Also there won’t be too much construction going on during this.

So a carpenter gang of 6 or 7 framing a house is a prohibited "public" gathering?

71 posted on 03/22/2020 5:56:31 PM PDT by central_va (I won't be reconstructed and I do not give a damn....)
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To: central_va

All of this new money pouring out of stocks has to go somewhere? real estate? Maybe.

Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Cash


72 posted on 03/22/2020 6:01:37 PM PDT by thinden (How many Barr haters across America are being paid by Soros to attack Barr.)
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To: thinden
In the age of negative interest rates those who invest ( gamblers) hate cash. They will park cash somewhere to get some kind of return. It's how they operate.

When one asset bubble pops another one is formed. The trick is to predict which asset class is going to get all the cash.

73 posted on 03/22/2020 6:04:58 PM PDT by central_va (I won't be reconstructed and I do not give a damn....)
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To: dfwgator
US Dollars right now are the world’s safest investment.

Invest in toilet paper commodities Mortimer.
74 posted on 03/22/2020 6:08:55 PM PDT by Old Yeller (Abortion mills are kept open as a necessity, but the churches have been closed.)
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To: central_va
The trick is to predict which asset class is going to get all the cash.

Your pick?

75 posted on 03/22/2020 6:18:33 PM PDT by Fury
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To: Fury
Some of the choices for the next bubble are:
76 posted on 03/22/2020 6:23:12 PM PDT by central_va (I won't be reconstructed and I do not give a damn....)
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To: central_va

Thanks for the info.


77 posted on 03/22/2020 6:35:01 PM PDT by Fury
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