Stock Market Update Thursday, March 19th, 2020
Stocks finished the day higher.
On a positive note, the major indices were up across the board. But today’s gains only put a small dent in yesterday’s losses.
It was another wild ride in overnight trading.
The E-Mini S&P was up 2.5% early. Then with a 7.5% slide, futures were down almost 5.0%
After the huge overnight swings, stocks opened slightly lower.
But right after the bell stocks rallied.
Trading was pretty choppy for most of the day, but a little before 5pm ET stocks were trading at session highs.
Then there was a slide into the close. But in spite of the last hour drop, the major indices managed to finish the day in the green.
The NASDAQ was the leader with a 2.3% gain. And today’s rally put the DOW back above 20,000.
Here’s where the major indices ended the day:
- The S&P finished with a 0.5% gain. Up 11 points, the S&P ended at 2,409.
- The DOW ended 1.0% higher. Adding 188 points the DOW closed at 20,087.
- The NASDAQ was up 2.3%. With a 157 point gain, the NASDAQ finished at 7,147.
Crude Oil (CL) had a HUGE day. With a 23.6% gain, Crude Oil finished at $25.80 a barrel.
Uber (UBER) and Lyft (LYFT) made nice comebacks today. The companies finished higher by 36.6% and 29.0% respectively.
Today Senate Republicans unveiled a coronavirus relieve plan that includes $1,200 in cash payments for individuals, $2,400 for couples, and $500 for every child.
In a note to clients today, Bank of America said that the economy has already “fallen into a recession.” Adding that “jobs will be lost, wealth will be destroyed and confidence depressed.”
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
This Stock Market Update was provided by Rockwell Trading Services LLC.