Connect with us

Hi, what are you looking for?

Top Stories


Futures fall after bumper session as virus threat rages on

imageStock Markets53 minutes ago (Mar 25, 2020 07:55AM ET)

(C) Reuters. Traders work on the floor of the NYSE in New York

By Uday Sampath Kumar and Medha Singh

(Reuters) – U.S. stock index futures fell on Wednesday after a strong rebound in the previous session, as an imminent $2 trillion rescue package failed to completely allay investor concerns over the economic threat from the coronavirus pandemic.

After the White House and Senators agreed to the deal to aid businesses and millions of Americans hit by the health crisis, futures briefly surged but soon reversed course as traders said much of the stimulus had been priced into financial markets.

On Tuesday, the Dow Jones (DJI) had soared over 11% in its best day since 1933, while the S&P 500 (SPX) jumped 9.4%, recouping about $1.8 trillion in market value.

“It’s too early to be positive,” said Andrea Cicione, head of strategy at TS Lombard.

“We still haven’t seen evidence that things are improving in terms of contagion. We also haven’t fully appreciated how far this recession will go.”

The benchmark S&P 500 was nearly $8 trillion below its mid February high, and investors expect more violent swings. Wall Street’s fear gauge (VIX), which nudged lower following reports of the Senate agreeing on the stimulus package, was up 4.3 points at 66.01.

The Senate will vote on the bill later on Wednesday and the House of Representatives is expected to follow soon after.

Airlines, hotels and cruise operators, among the hardest hit U.S. sectors, were some of the biggest gainers in premarket trading.

American Airlines (O:AAL), Carnival Corp (N:CCL) MGM Resorts (N:MGM) and Norwegian Cruise Line Holdings (N:NCLH) jumped between 15% and 23%.

Nike Inc (N:NKE) rose 9% after the sportswear giant beat quarterly revenue estimates and said sales in China were rebounding, helped by online orders.

Boeing Co (N:BA) continued its rally, jumping nearly 15% as sources said the planemaker planned to restart 737 MAX production by May, ending a months-long halt triggered by a safety ban.

At 07:13 a.m. EDT, Dow e-minis were down 70 points, or 0.34%, S&P 500 e-minis were down 30.75 points, or 1.26% and Nasdaq 100 e-minis were down 70.75 points, or 0.94%.

Futures fall after bumper session as virus threat rages on

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

Nikola, an electric truck startup, saw its stock price fly high as it went public and announced a deal with General Motors. A damning...


Stock Markets8 minutes ago (Jul 31, 2020 07:50PM ET) (C) Reuters. FILE PHOTO: James Murdoch, the son of media mogul Rupert Murdoch, and his...

Editor's Pick

TikTok is one of the most rapidly growing platform. People across all the spectrum of age, gender, communities are joining the platform to...

Top News

SEC probing Nikola Motors over short-seller claims of fraud – Business Insider Business Insider logoThe words “Business Insider”. 2020-09-14T23:20:04Z Massimo Pinca/Reuters The Securities and...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Secrets Of Richdads. All Rights Reserved.

    Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!