The Dow is set to lose 800 points as futures losses worsen

CNBC ^ | Feb 27 2020Updated Moments Ago | Fred Imbert and Eustance Huang

[rdl6989]

U.S. stock futures pointed to more losses early Friday after the major indexes suffered a tumble that sent them more than 10% below their record highs.

As of 9 a.m. ET, Dow Jones Industrial Average futures were down about 600 points and indicated an opening loss of 800 points. S&P 500 and Nasdaq 100 futures also pointed to a lower open on Friday.

Futures were under pressure in part because investors kept adding to their bond-market exposure. The benchmark U.S. 10-year Treasury yield touched a fresh record low. It was last at 1.18%. Yields move inversely to prices.

[LouAvul]

Even for the American company that manufactured surgical masks, moved their equipment to china to save labor costs, saw their company confiscated/nationalized by the chinese, etc? Even for them?

[brownsfan]

“Even for them?”

Well, once the company is confiscated, the options are limited. :)

[nuconvert]

“They didn’t start from scratch.”

Very few have. Nevertheless, it takes months to test on human beings

[No.6]

Mobile devices are really not good at snagging the requisite screenshots. Thanks for taking the time to flip the bird, though.

[Herakles]

Ok, here is the data about the virus;

https://www.worldometers.info/coronavirus/

I’m tried of the wailing, crying and what ifs!

[going hot]

definitely lots of low hanging fruit.

[EVO X]

Tesla hit 900 and some change on the 19th. Last time I checked Tesla it was around 300. At the time I saw price, I thought this is the market top, like Qualcomm back in the dot com crash..

[nuconvert]

Moderna Therapeutics, a biotech company based in Cambridge, Mass., has shipped the first batches of its COVID-19 vaccine. The vaccine was created just 42 days after the genetic sequence of the COVID_19 virus, called SARS-CoV-2, was released by Chinese researchers in mid-January. The first vials were sent to the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH) in Bethesda, MD, which will ready the vaccine for human testing as early as April.

[1Old Pro]

While the Dow Jones Industrial Average extends its biggest weekly point drop in its history, and biggest percentage selloff since the financial crisis, market internals suggest NYSE investors are acting relatively calmly, with those buying Nasdaq stocks on dips are more aggressive than sellers. The Arms Index tends to rise above 1.000 when the stock market falls, as volume in declining stocks increases at a faster pace than the number of declining stocks, as sellers become more aggressive than buyers. Many chart watchers believes rises in the Arms above 2.000 depicts panic-like behavior. But with the Dow down 909 points on Friday and 4,135 points for the week, the NYSE Arms is to only 1.200, while the Nasdaq Arms is down to 0.582, which is close to the 0.5000 mark usually associated with panic-buying behavior. The Nasdaq Composite dropped 2.5% on Friday and 12.8% for the week.

[nuconvert]

Tesla is currently at 634.75

[tatown]

QCOM was a helluva ride $$ in the late-90’s.

[Paladin2]

"It isn't the plague. There aren't wagon loads of bodies in the streets. What the hell? "

It's about the dough re me.

The "panic" is expected to reduce average/total economic activity going forward. At least for a while.

The Market was under reacting, now likely over-reacting.

[NELSON111]

>>>Dude, check your math.

OK - Dude.

Trump takes office on 20 Jan 2017. The Dow is at 19,800. The Dow peaks on 12 Feb 2020 at 29,551.42. That is a 9,751 point rise.

We are currently at 24,950 - for a total fall of 4,601 off the ATH.

So - we are down 16% total - and about 47% of that gain from the time PDJT took office - has been wiped out....as I stated.

So - Dude - you really gonna quibble about 3%? IF so - I will rephrase: "And ABOUT half of that gain has been wiped out in less than 2 weeks."

There - feel better Baghdad Bob?

[NELSON111]

Yeah - the TSLA run up is nuts. Puts were cheap too - wasn’t even thinking about shorting this either when all of this starting. Kicking myself.

[bigdaddy45]

Or truth? Have you seen what’s going on globally? Supply chains are shutting down. That is going to impact growth.

[EVO X]

Had a coworker buy QCOM at the very top.

[lilypad]

Today fidelity is hosting an online conference at noon for their investors. I’ll listen and see what their spin is...

[Karl Spooner]

It should hold at 8800.

[gogeo]

Point well taken. I would have used election day 2016 as the starting point, but yours is valid. My DOW reference was a day or two older than yours. I was inaccurate.

[NELSON111]

No worries. I am just looking at it from where he had the ability to do something. However - do yourself a favor: If you have some sort of charting software (if not - go to investing.com and go to the S&P 500 - click on "technical chart") - and draw some lines. Draw specifically from 24 August 2015. OR for that matter - draw it from the very bottom of the collapse in 2008 - which was March 9th, 2009. Draw one line from those dates to the peak and draw one line to yesterdays close.

You will notice something about the market. I think you will be surprised.