All eyes are on Congress to pass a much-needed stimulus bill to rescue the economy from the coronavirus damage. The stock market is staging a turnaround with the Dow rebounding from its 2016 low. Here’s what’s happening: 10:52 am: Goldman says buy gold now: ‘Time to buy the currency of last resort’ Gold prices jumped more than […]
Tag: Gold COMEX (Feb'20)
Market turmoil sparked by coronavirus is worse than 2008: James Bianco
Market researcher James Bianco calls the Federal Reserve’s move to pump $1.5 trillion into the market the “nuclear option” to calm investors gripped by coronavirus fears. Only, it didn’t work Thursday. Instead, stocks saw their worst day since the 1987 Black Monday market crash. “Financial markets are not recovering. It’s incredible to think that a […]
Dow futures down 770, airlines slide, Apple drops
Traders work on the floor of the New York Stock Exchange. Brendan McDermid | Reuters This is a live blog. Please check back for updates. 8:32 am: Chipmaker stock ETFs fall sharply The VanEck Vectors Semiconductor ETF (SMH) and the iShares PHLX Semiconductor ETF (SOXX) were both down more than 3% in the premarket, putting […]