See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week free trial to Bespoke Premium. CLICK HERE to learn more and start your free trial.
Well, the St Patrick’s Day rally lasted long. Futures are once again trading limit down and poised to erase all of yesterday’s gains. On the bright side, despite the fact that futures are limit down, the major US index ETFs are only down about 6%, which isn’t much more than the futures. Imagine that. Only 6%!
Conditions remain dire, but we do have to stress the recent moves by the Fed should help to stabilize the credit markets and stem an even bigger disaster. That certainly doesn’t help with slowing down the pandemic and its spread, but it’s better than the alternative.
Read today’s Bespoke Morning Lineup for a discussion of the Fed’s latest moves to stabilize the credit markets, trading in Europe and Asia, as well as a recap of the latest case counts of the coronavirus.
The market’s volatility right now is truly unprecedented throughout history. Yesterday’s rally was the 7th straight trading day where the S&P 500 experienced a one-day move of more than 4%. That’s NEVER happened before, and the way things are playing out today, the S&P 500 is on pace for its 8th straight 4% move.