3 Million more jobless claims..

[57stratdawg]

Higher than expected. We might see trading halted after opening.

 

[Apoplectic_Objurgator]

Higher than expected. We might see trading halted after opening.

here comes the W....maybe?

 

[tbaydog]

and all in the Private Sector!!

 

[EagleDawg97]

This is not a big problem, now don’t you go prioritizing your financial well being over human life. Didn’t you here? We are all going to stay at home and the government is going to pay our bills.

 

[Jeffreauxdawg]

I don't think we will hit any circuit breakers. Solid resistance at 2735ish and very strong resistance at 2630ish on the S&P.

In fact now that everyone is looking down, I wouldn't be shocked if we went up today. Mr Market is a sneaky mofo.

 

[DoggieDaddy13]

So true.... could turn out to be tank day.

 

[TheStateUofMS]

Doubt we see any circuit breakers triggered again unless we get something like a vaccine trial fails, which Moderna's just entered a phase 2 trial. Even then there are so many other companies developing one, the breakers may not get triggered, but market would no doubt take it horribly. Outside of some truly AWFUL news on the virus front, I think we'll remain volatile, but shouldn't have any circuit breakers.

Circuits were going off last time bc we were in an information vacuum and there was true panic. Circuit breakers being triggered is very rare, but this is the type of event that causes them.

Futures Limit Up/Down is at 5% I think.

 

[Seinfeld]

I may be way off base here, but I believe the last 2-3 rounds of increased jobless claims have actually had little to no impact on immediate trading. Don’t know if that’s because the speculation was already baked in or something else, but hopefully the dip from the last couple days will start to stabilize soon.

One thing I will say being that I’m in the middle of the manufacturing world is that global supply chains are on pretty shaky ground right now. I’m in the middle of an “essential” sector being that we service ag, transportation, and the filtration business, and even our recently released shut down schedules are eye popping. There’s a lot of hope that we’re going to see demand return with a V shape in Q3, and if that doesn’t happen, I’d expect some additional concern from Wall St

 

[Msubulldogfan1]

People really don’t understand the market. Everyone KNOWS that job/unemployment numbers suck right now. That’s not catching anyone off guard.

 

[Dawgology]

Higher than expected. We might see trading halted after opening.

The Fed may go 0% interest rate soon. I think you are seeing some people buy into that theory now. If that happens you may see the roof blow off. Of course, our children will be screwed eventually but we will be doing great. Buy yourself a 2nd or 3rd house before real estate skyrockets if that happens.

 

[TheStateUofMS]

The market dropped 38% (Dow Jones) in a very short period of time. It priced in a major recession. Since then we've had a big bounce, probably too big, but who the hell knows. Market is definitely pricing in a faster recovery time for the economy to this point than most expecting.

The market has been green on almost every day employment numbers have been announced because the job losses were priced in earlier.

ETA: You are spot on about Q3 having to be a sharp recovery for the market to hold up. Funny thing is market will sniff that out BEFORE Q3 gets here.

 

[TheStateUofMS]

The Fed already moved to 0% in March.The current target Fed Funds rate is currently 0.-.25%.