Lunes 23/03/20 futures a la baja

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Fed announces a slew of new programs to help markets, including open-ended asset purchases
PUBLISHED MON, MAR 23 20207:59 AM EDT
Jeff Cox
@JEFF.COX.7528
@JEFFCOXCNBCCOM
The Federal Reserve said Monday it will launch a barrage of programs aimed at helping markets function more efficiently in the wake of the coronavirus crisis.

Among the initiatives is a commitment to continue its asset purchasing program “in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.”

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LAST CHG %CHG
Crude Oil Futures 22.42 -0.21 -0.93
Brent Crude Futures 25.77 -1.21 -4.48
Gold Futures 1498.50 13.90 0.94
Silver Futures 12.525 0.140 1.13
DJIA Futures 18484 -556 -2.92
S&P 500 Futures 2222.50 -66.00 -

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Copper March 23,07:59
Bid/Ask 2.1023 - 2.1037
Change -0.0641 -2.96%
Low/High 2.0214 - 2.2256
Charts

Nickel March 23,07:56
Bid/Ask 5.0802 - 5.0848
Change -0.0748 -1.45%
Low/High 5.0190 - 5.1978
Charts

Aluminum March 23,07:59
Bid/Ask 0.7059 - 0.7061
Change -0.0011 -0.16%
Low/High 0.6889 - 0.7244
Charts

Zinc March 23,07:58
Bid/Ask 0.8339 - 0.8355
Change -0.0027 -0.33%
Low/High 0.8079 - 0.8554
Charts

Lead March 23,07:54
Bid/Ask 0.7450 - 0.7459
Change +0.0059 +0.80%
Low/High 0.7252 - 0.7661
Charts

Uranium Mar 16, 2020
Ux U308 price: 24.10
Change from

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Mejorando

LAST CHG %CHG
Crude Oil Futures 22.75 0.12 0.53
Brent Crude Futures 25.84 -1.14 -4.23
Gold Futures 1511.10 26.50 1.78
Silver Futures 12.730 0.345 2.79
DJIA Futures 18818 -222 -1.17
S&P 500 Futures 2259.50 -29.00 -

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Stock futures surge into the green after being ‘limit down’ overnight as Fed announces limitless asset purchases
PUBLISHED SUN, MAR 22 20206:04 PM EDTUPDATED MOMENTS AGO
Fred Imbert
@FOIMBERT
WATCH NOW
VIDEO00:55
Dow futures drop 600 points as investors await a stimulus deal
U.S. stock futures fell on Monday as Wall Street awaited Washington lawmakers to agree to an economic stimulus and rescue plan to cushion the blow from the coronavirus outbreak.

As of 8:07 a.m. ET, Dow Jones Industrial Average futures dropped more than 200 points. S&P 500 futures were off by about 1%. Nasdaq 100 futures declined by 0.5%. The SPDR S&P 500 ETF was off by 0.8% in premarket trading.


Stock futures came regained most of their losses after the Federal Reserve unveiled an open-ended asset purchase program, which the central bank will run in the “amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.”

Overnight, futures hit their “limit down” levels, falling 5%. Downside limits to futures contracts are implemented to ensure orderly market behavior once trading hits a certain threshold. No trades below that level are allowed.

A fiscal stimulus bill failed a key procedural Senate vote Sunday as Democrats warned the measure did not do enough to help impacted workers and instead offered too much for company bailouts. House Speaker Nancy Pelosi had signaled she was not on board with the Republican version of the stimulus plan, saying: “From my standpoint, we’re apart.”

On a positive note, Senate Minority Leader Chuck Schumer, D-NY, said disagreements over the bill could be overcome in the next 24 hours. A spokesman for Schumer later added the senator and Treasury Secretary Steven Mnuchin had a “productive meeting.”

Traders were waiting for any signs of a compromise as negotiations continued into the night.


20200318 SP500 volatility
National Economic Council Director Larry Kudlow said Saturday an economic stimulus package will total more than $2 trillion, noting it will be equal to roughly 10% of U.S. economic output. Last week, President Donald Trump signed a $100 billion bill that expanded paid leave in the U.S.

Mnuchin said Sunday that financing programs to stimulate the economy could be worth $4 trillion, noting these efforts will include coordination with the Federal Reserve to provide businesses with necessary liquidity.

“When this started, this was a bit unique to the airline industry since we had shut down most of airline travel,” Mnuchin said. “This liquidity facility is a broad-based liquidity facility working with the Fed.”

Most coronavirus-impacted stocks fell again on Monday in premarket trading as cruise line Carnival Corp. dropped 9.5% and hotel operator Hilton Worldwide dropped 5.3%.

Boeing shares rose 1% in premarket trading, outperforming the market, as Goldman Sachs made a bold call Sunday evening, telling clients the company had enough cash to survive the coronavirus downturn and that air travel would eventually return. The shares are off 70% this year.

David Kostin, chief U.S. equity strategist at Goldman Sachs, said the difference between a fast or a prolonged recovery in the stock market will come down to three factors: How quickly the virus is contained, whether businesses will have ” access to enough capital and liquidity to last the 90 to 180 days,” and whether fiscal stimulus can stabilize growth forecasts.

“If short-term shutdowns lead to business defaults, closures, and permanent layoffs, the damage to corporate earnings growth could persist well after the virus is contained,” Kostin said in a note.

20200320 close SP500 bear market
Wall Street has been clamoring for fiscal economic relief as the number of coronavirus cases keeps surging. The number of confirmed global cases surpassed 300,000 over the weekend as deaths now total over 13,000, according to data from Johns Hopkins University.

In the U.S., more than 30,000 cases have now been confirmed. New York Gov. Andrew Cuomo said Sunday cases in the state soared to 15,168 over the weekend, more than the total number of cases in France or South Korea.

Economists at Goldman Sachs wrote Friday they expect a 24% contraction for the second quarter after a 6% drop in the first quarter. Morgan Stanley economist Ellen Zentner said in a note Sunday she expects a historic 30% contraction in the second quarter.

“Suffice to say that the economy entered a unique, sudden-stop recession in March,” wrote Prajakta Bhide, strategist at MRB Partners. “If there is no concrete evidence of meaningful progress toward controlling the epidemic in the next eight weeks, there will be no basis for people and businesses to feel safe to begin to normalize economic activity.”

The outbreak has led the New York Stock Exchange to close its trading floor and temporarily move to all-electronic trading beginning Monday. NYSE expects trading to proceed as normal.

“Things will get worse before they get better and the markets will continue to reflect that reality,” said Marc Chaikin, CEO of Chaikin Analytics, in a note. “This means that a bottoming process will take more time and probably inflict more damage to equities.”

Last week, stocks suffered their biggest one-week decline since the financial crisis in 2008, with the S&P 500 dropping more than 13%. Those losses put the broad market average more than 32% below its record set on Feb. 19.

Morning consult consumer confidence mar 23 2020
Last week ended with all 11 S&P 500 sectors closing more than 20% below their respective 52-week highs. The S&P 500 is on pace for its worst monthly performance since 1940.

Investors have also been rattled by a sharp decline in crude prices. West Texas Intermediate futures fell 29.3% last week, their biggest weekly fall since January 1991. U.S. crude is also more than 66% below its most-recent 52-week high.

The steep losses in crude are forcing investors to sell other assets such as stocks or bonds to cover the losses in their energy positions. Crude futures briefly fell more than 8% Sunday night before clawing back most of those losses.

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Las nuevas medidas del Fed tienen a los futures cambiando de rumbo y de estar casi 1,000 puntos a la baja están ahora 271 puntos al alza.

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Mnuchin dice que el Congreso está por aprobar el paquete de estímulo a la economía.

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+360

Cierto optimismo en el ambiente.

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+465

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+488

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+259

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-35% desde su punto más alto.

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+50

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En rojo

-331.18