Traders gather at a post on the floor of the New York Stock Exchange, Wednesday, March 4, 2020. Stocks are surging in early trading on Wall Street, led by health care stocks after Joe Biden scored a number of Super Tuesday wins.
Investors are also anticipating other central banks will follow up on the Federal Reserve’s surprise move Tuesday to slash interest rates by half a percentage point in hopes of protecting the economy from the economic fallout of a fast-spreading virus. Canada’s central bank cut rates on Wednesday, also by half a percentage point and citing the virus’ effect.
Even though many investors say they know lower interest rates will not halt the spread of the virus, they want to see central banks and other authorities do what they can to lessen the damage. The S&P 500 sank 2.8% on Tuesday after a brief relief rally triggered by the Fed’s rate cut fizzled. An indicator of fear in the market, which measures how much traders are paying to protect themselves from future swings for the S&P 500, eased by 8% in morning trading. The price of gold, which tends to rise when investors are feeling fearful, also dipped $4.60 to $1,639.80 per ounce. Crude oil, which moves in part on expectations for economic strength, rose more than 1%.
Health care stocks in the S&P 500 jumped 3.6% for the biggest gain by far among the 11 sectors that make up the index. UnitedHealth Group surged 9.9%, Anthem jumped 13.6% and Cigna rose 10.3%.
FakeNewsAP trying to credit Sleepy Joe the Baby Sniffer for the stock market going up today. What ass hats!
The market will plummet if Sanders were to win....I don’t think think too many socialists invest their money in the stock market....it’s hidden in the freezer or under a mattress.
Dear realDonaldTrump your incompetence causes markets to crash. Traders and businesses know that JoeBiden will bring sanity and stability back to the WH.
armsaloft Fuckin gross
So the market was actually scared of Bernie not Corona?
Fake news
What happened APe no gloom and doom?
adonsports But the markets reaction to 45 the last 3 yrs🤷♂️
You guys are delaying the inevitable. Your gonna create a recession.
Another news agency that hates Trump isn’t it wonderful
This new outlet is endorsing Joe Biden for president United States 2020. Another useless news outlets have no use for it
There needs to be an Investigation in corrupt compromised RussianAsset realDonaldTrump StockMarket Manipulation = PRISON. Hes been doing this from day1. Who exactly is benefiting? His rich GOP donors All of TrumpCrimeSyndicate Is stevenmnuchin1 involved? FOLLOW THE MONEY!
Monied interests are happy about the guy who mistook his wife for his sister, lied about being arrested in South Africa, supports deregulations, supports terrible trade deals thay outsources jobs, doesn't want to raise min wage, weak on environmental issues and on.
Thank Joe Biden for the rally!!!
NOTHING to do with Joe Biden. Such blatant idiocy!
Lol. Joe Biden?
This is great news and all, however it's STILL the preliminaries & the Election isn't UNTIL NOVEMBER 2020! The coronavirus is NOW 3-4-2020! 📌NOTE: Trump CUT $3.3 BILLION to Health Dept which includes the Coronavirus!!!
Looks like the market is not afraid of Biden. Of course why not, the market will grow with the 99% finally fully participating with Trump gone.
Who is going to tell 45 Biden’s Super Tuesday wins enables the stock market’s rebounding today?
Fear of progressives should be noted but, dont be so confident with Biden
Disgusting
Michael Bloomberg is getting his 500 million back, I guess...
Meanwhile, Bloomberg spent $500m on a dismal Super Tuesday performance and took a hit in the market
This is disgusting. Profits over people, the true American way
Hahahahahaha. No.
Healthcare stocks, wow big pharma and healthcare ceos feel safe to know with Biden their profits won’t be affected