Stock Market update -Mar 2

This week we had the largest weekly drop in the markets history! Carnage everywhere. The FAANNGs held up better than most others, keeping the Nasdaq 100 from dropping to the lows seen in the other indexes. Most of the blame went to the global coronavirus outbreak.
We could see continued breakdowns as it continues to spread, but also because of the economic damage inflicted so far.  Looking for a possible bounce this week...

The 30 year Bond rallied again, with yields dropping to its lowest ever in history!
Oil dropped, as did Gold. Bonds rallied!

Wall Street is wondering if the Fed can heal a coronavirus-stricken stock market that just saw $4.3 trillion in value vanish over the past 7 sessions

Market concerns:  Coronavirus...
Pops:   NVAX
Drops:  everything! 

Over $23 Trillion in debt!  See Debt Clock on the left, or here...



S&P 500 chart  -Crashed back down to the early Oct lows!  (Link)
The nightly Fed Repo injections started in early Oct, so we gave it all back!

Bonds ...in an uptrend
Rates keep going lower -AGAIN -chart (link)

10yr rates pic

New all time highs:   ZM -lonely list!
All time lows:  lots... many Energy related companies too


Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -skyrocketed!
ETFs SPY, IWM, QQQ, GLD, GDX, USO, XOP, VXX, XLF, XLE, FXI, EEM EWZ, 

Stocks AAPL, AMD, BAC, BABA, DIS, FB, MU, NFLX, NVDA, ROKU, TSLA...


Next week:     Earnings from more Retailers, among others
MTWTF
Events:

Jobs report
Earnings:
TGT, ROST, VEEVDLTR, ZMCOST

This week's charts:


$NYA -NYSE Composite  -crashed back down to the June lows! 

 (IWM)   Small-caps -ditto!




Links...
10yr Interest Rates  -still dropping
Gold dropped, closing near 1587 -now dropping back below 1600!!
The US Dollar was down a bit, closing near 98.05
The 30 year Bond was up again, closing near 170.09 -now at its lowest yield ever!

News:


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