3rdPartyFeeds

Stock Market News for Mar 30, 2020

Benchmarks ended in the negative territory on Friday as a steep rise in coronavirus cases in the United States weighed on investors' sentiments. Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Benchmarks ended in the negative territory on Friday as a steep rise in coronavirus cases in the United States weighed on investors’’ sentiments.” data-reactid=”19″>Benchmarks ended in the negative territory on Friday as a steep rise in coronavirus cases in the United States weighed on investors’’ sentiments.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The Dow Jones Industrial Average (DJI) dropped 915.39 points, or 4.1%, to close at 21,636.78 and the S&amp;P 500 slid 88.60 points or 3.4% to close at of 2,541.47. While, the Nasdaq Composite Index closed at 7,502.38, losing 295.16 points or 3.8%. The fear-gauge CBOE Volatility Index (VIX) increased 0.9%, to close at 65.54. Declining issues outnumbered advancing ones for a 3.17-to-1 ratio on the NYSE and a 2.98-to-1 ratio on the Nasdaq favored decliners.” data-reactid=”20″>The Dow Jones Industrial Average (DJI) dropped 915.39 points, or 4.1%, to close at 21,636.78 and the S&P 500 slid 88.60 points or 3.4% to close at of 2,541.47. While, the Nasdaq Composite Index closed at 7,502.38, losing 295.16 points or 3.8%. The fear-gauge CBOE Volatility Index (VIX) increased 0.9%, to close at 65.54. Declining issues outnumbered advancing ones for a 3.17-to-1 ratio on the NYSE and a 2.98-to-1 ratio on the Nasdaq favored decliners.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How Did the Benchmarks Perform?” data-reactid=”21″>How Did the Benchmarks Perform?

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="As coronavirus panic drove investors to purchase safe-haven assets like the U.S. Treasury yields, banking index fell 4.6% following the decline of the treasury yield. Out of the 11 major sectors of the S&amp;P 500, energy sector was the biggest percentage loser, declining 6.9%, with the drop in oil price.” data-reactid=”22″>As coronavirus panic drove investors to purchase safe-haven assets like the U.S. Treasury yields, banking index fell 4.6% following the decline of the treasury yield. Out of the 11 major sectors of the S&P 500, energy sector was the biggest percentage loser, declining 6.9%, with the drop in oil price.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Additionally, shares of airlines dropped after U.S. Treasury Secretary Steve Mnuchin said that the help designated for airlines in the aid package. Airlines would need to compensate the money to the taxpayers.” data-reactid=”23″>Additionally, shares of airlines dropped after U.S. Treasury Secretary Steve Mnuchin said that the help designated for airlines in the aid package. Airlines would need to compensate the money to the taxpayers.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Shares of Delta Air Lines, Inc. DAL, American Airlines Group Inc. AAL and United Airlines Holdings, Inc. UAL fell 6.8%, 10.3% and 7.6%, respectively. American Airlines Group a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.” data-reactid=”24″>Shares of Delta Air Lines, Inc. DAL, American Airlines Group Inc. AAL and United Airlines Holdings, Inc. UAL fell 6.8%, 10.3% and 7.6%, respectively. American Airlines Group a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Overall, the S&amp;P index recorded one new 52-week high and one new low. Meanwhile, Nasdaq recorded nine new highs and 39 new lows.” data-reactid=”25″>Overall, the S&P index recorded one new 52-week high and one new low. Meanwhile, Nasdaq recorded nine new highs and 39 new lows.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Coronavirus Cases Spikes” data-reactid=”26″>Coronavirus Cases Spikes

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="On Friday stocks ended the three-day surge after investors doubted about economic impact of the rise in coronavirus cases in the United States. In fact, stocks tumbled even after the House of Representatives approved a $2.2 trillion aid package to help people and companies subsist the economic downturn caused by COVID-19 and also provide hospitals with urgently needed medical supplies like ventilators and personal protective equipment.” data-reactid=”27″>On Friday stocks ended the three-day surge after investors doubted about economic impact of the rise in coronavirus cases in the United States. In fact, stocks tumbled even after the House of Representatives approved a $2.2 trillion aid package to help people and companies subsist the economic downturn caused by COVID-19 and also provide hospitals with urgently needed medical supplies like ventilators and personal protective equipment.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="So far the United States has not only surpassed China and Italy as the country with the most coronavirus cases, passing over 85,000, while fatalities increased to 1,200. Global cases of the coronavirus have surged to more than 542,700 till Friday.” data-reactid=”28″>So far the United States has not only surpassed China and Italy as the country with the most coronavirus cases, passing over 85,000, while fatalities increased to 1,200. Global cases of the coronavirus have surged to more than 542,700 till Friday.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Weekly Roundup” data-reactid=”29″>Weekly Roundup

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Benchmarks went through a rollercoaster ride last week, the DOW posted its biggest weekly gain since 1938, surging more than 12%. While the S&amp;P 500 and Nasdaq rose 10.3% and 9.1%, respectively, coming off their best week since 2009.” data-reactid=”30″>Benchmarks went through a rollercoaster ride last week, the DOW posted its biggest weekly gain since 1938, surging more than 12%. While the S&P 500 and Nasdaq rose 10.3% and 9.1%, respectively, coming off their best week since 2009.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Sharp gains in the last week came from prospect of massive fiscal and monetary stimulus. Along with that President Trump signing a $2 trillion stimulus package into law to curb the economic blow from the coronavirus outbreak, helped markets gain traction. The Federal Reserve’s open-ended asset-purchase program also boosted the stocks.” data-reactid=”31″>Sharp gains in the last week came from prospect of massive fiscal and monetary stimulus. Along with that President Trump signing a $2 trillion stimulus package into law to curb the economic blow from the coronavirus outbreak, helped markets gain traction. The Federal Reserve’s open-ended asset-purchase program also boosted the stocks.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Stocks that Made Headline” data-reactid=”32″>Stocks that Made Headline

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Alphabet’s Google to Donate $800M to Combat Coronavirus” data-reactid=”33″>Alphabet’s Google to Donate $800M to Combat Coronavirus

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Alphabet Inc.’s GOOGL Google is leaving no stone unturned to help the society in fighting the coronavirus pandemic. As the coronavirus pandemic continues to spread, the rising number of infected patients calls for better infrastructure and safety for the comparatively lesser number of healthcare workers. (Read More)” data-reactid=”34″>Alphabet Inc.’s GOOGL Google is leaving no stone unturned to help the society in fighting the coronavirus pandemic. As the coronavirus pandemic continues to spread, the rising number of infected patients calls for better infrastructure and safety for the comparatively lesser number of healthcare workers. (Read More)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Analog Devices Withdraws Guidance Amid Coronavirus Crisis” data-reactid=”35″>Analog Devices Withdraws Guidance Amid Coronavirus Crisis

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Analog Devices Inc. ADI has withdrawn its earlier announced guidance for fiscal second-quarter 2020 on account of the coronavirus outbreak. The company also announced that the supply chain has been disrupted owing to coronavirus crisis. (Read More)” data-reactid=”36″>Analog Devices Inc. ADI has withdrawn its earlier announced guidance for fiscal second-quarter 2020 on account of the coronavirus outbreak. The company also announced that the supply chain has been disrupted owing to coronavirus crisis. (Read More)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The Hottest Tech Mega-Trend of All” data-reactid=”37″>The Hottest Tech Mega-Trend of All

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Last year, it generated $24 billion in global revenues. By 2020, it’s predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world’s first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.” data-reactid=”38″>Last year, it generated $24 billion in global revenues. By 2020, it’s predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce “the world’s first trillionaires,” but that should still leave plenty of money for regular investors who make the right trades early.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See Zacks’ 3 Best Stocks to Play This Trend &gt;&gt;” data-reactid=”39″>See Zacks’ 3 Best Stocks to Play This Trend >>

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
&nbsp;
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
&nbsp;
Analog Devices, Inc. (ADI) : Free Stock Analysis Report
&nbsp;
United Airlines Holdings Inc (UAL) : Free Stock Analysis Report
&nbsp;
American Airlines Group Inc. (AAL) : Free Stock Analysis Report
&nbsp;
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
&nbsp;
To read this article on Zacks.com click here.
&nbsp;
Zacks Investment Research” data-reactid=”40″>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
 
Analog Devices, Inc. (ADI) : Free Stock Analysis Report
 
United Airlines Holdings Inc (UAL) : Free Stock Analysis Report
 
American Airlines Group Inc. (AAL) : Free Stock Analysis Report
 
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Read More

Add Comment

Click here to post a comment