General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDOW ticking around zero this morning so far...
started slightly up, but looks like it's still within +/- 100, which is basically white noise.
NAS and S&P about the same, but on the down side.
Apollo Zeus
(251 posts)Selling into strength. I don't expect a bottom until we get a handle on COVID-19.
I see traders strategizing on how to take advantage of the Fed's market stabilization efforts. Much like in 2008 they know which stocks the Fed will support (Fannie Mae, Ford, airlines, etc) and which they will let fail (WeWork and other VC stuff).
Johnny2X2X
(19,066 posts)PE ratio is still about 30% above historical averages.
Never rooting for the markets to go down, my 401K is wrapped up in them. But the first rebound and Trump is planning a press conference to take credit for it.
You have very real and tangible things right now that are going to hurt the economy. People are cancelling their travel plans and people are starting to spend less. Remember too that 75% of economists had predicted the economy was heading into a recession this year before all of this Coronavirus stuff even started.
Wounded Bear
(58,662 posts)Not an expert, but it's been feeling very "bubble-like" to me for a couple of years. The Trump tax cuts were just more air in the bubble. No real value has been added.
Kind of like Bush in '08, they're trying to prop it up 'til after the election, but reality has a way of popping up at odd times. Coronavirus was just a trigger mechanism. If it hadn't been that, something else would have come. Interest rates are already pretty low, not a lot of room to do much there. Consumers have to run out of credit sooner or later.