Dow soars 1,600 points as growth rate of new coronavirus cases appears to slow

surged 7.3% to 7,913.24. The major averages rallied to their session highs in the final minutes of trading, with the Dow briefly trading more than 1,700 points higher.

The Trump administration also noted on Sunday there are signs of stabilization in hospital rates, helping to lift Wall Street sentiment on Monday. Meanwhile, New York State reported 594 new coronavirus deaths on Sunday, fewer than 630 on Saturday, marking the first daily decline in coronavirus-related deaths.

Last week, the major averages posted their third weekly decline in four. The Dow slid 2.7% while the S&P 500 lost 2.1%. The Nasdaq Composite closed last week down 1.7%. Stocks are also deep in bear-market territory as concerns over the coronavirus outbreak have virtually shut down the global economy and have dampened sentiment around corporate profits.

So when jobless claims 6MM, we’ve already priced that in. But when a governor sees that there’s the “potential” that the curve “might” be flattening we go up 7% b/c that definitely wasn’t priced in... Got it

toddbillion Are we in a bull trap?

Yesterday bad covid19 news today good covid19 news... merika land of the con...

DavidBurton1971 they just tested less...dont be fooled you are miles away from the top of the sombrero...these are false numbers look over the next 7 days

Thanks to the Fed for firing its last bullet. Now what when we tank again? More debt?

All this is crap to get everyone to buy worthless stock !

pshh this market is just too easy

A major world leader has appointed a designee as he is transferred to intensive care with the virus causing the sell off and interruption. This fits.

MAKES. NO. SENSE.

This is illogical. Sunday tally is always low relative to the rest of the week. More likely ramping discussions for Phase 4 stimulus are leading the rally.

Hoping an oil deal can be reached this Thursday with OPEC

Yes cases slowed down is the reason. Not the shift to Socialism for losses of the rich. Sure.

Animal spirit is coming back!

What’s going on? This doesn’t make sense.

Hmmm still in a full lock-down and nowhere near the end yet, UK PM just sent to ICU.. but market is green big time. I guess that makes sense!!

Why

Check out London real they are trying to hide the truth

But unemployment is 25% The economy is in a massive recession. All because Trump screwed up.⚠️

The market closed higher today than the lows of the Dec-2018 drop.

Bear market rallies are stupid lol

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Stocks are set to jump, with Dow futures pointing to a more than 800 point gain“We’re having a bounce on medical issues, not on policy issues, not on technical issues.” Here’s why Allianz’s elerianm says that’s significant. elerianm Trump fool's gold. Only a fool would buy into this market. We rally on less deaths? How sad & pathetic the crooks on Wall St are. The economy is closed and its nothing like we have ever seen. Another chance to sell Trump is a Conman elerianm Bounce? Such BS. Switch off the machines until they have “pandemic” coded into their vocabulary. elerianm But it’s only minimally good news of a slow in Spain, Italy and NYC.... says nothing about the rest of the USA which will get worse before better?
Source: CNBC - 🏆 12. / 72 Read more »

GM offers manufacturing blueprints for face masks to 600 auto parts suppliers amid virus pandemicIn a note to the companies Saturday, Shilpan Amin, GM's vice president of Global Purchasing and Supply Chain, said it is making the company's step-by-step manufacturing plans for such personal protective equipment available to anyone willing to join in the cause. mtbarra finally makes a good decision. Still can’t save Cadillac though. When your mask has a little oil on it Good news. We’re all going to need PPE’s if we expect to have any freedom of movement without the chance of infection.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks are set to jump at Monday's open, Dow futures rise more than 200 pointsU.S. stock futures rose on Sunday night as Wall Street tried to recover from another decline last week. US futures up in early Sunday evening trade. Dow futures +297 points. Wow 200 points ! 🙄 CNBC. WOW!! Sincerely
Source: CNBC - 🏆 12. / 72 Read more »