The Weekend Rip: Making the Best of It

Weekend Rip 3/22

The last 4 weeks have been a cascade lower and the S&P 500 is now down 28% for the year. Here’s a weekly candle chart of the index.

S&P 5002,304-14.98%
Russell 20001,013-16.22%
Dow Jones19,173-17.30%
Weekly percent changes 

Coronavirus Aid Bill

More details on the coronavirus aid bill have been released. Here’s the latest as of this morning:

Highlights include: 

-$3,000 one time payment for Families

-$4T in liquidity for the Fed

Here is the NY Times with more on the story.

Donald Trump and the Stock Market

As of Friday’s close, the S&P 500 has risen 1.5% since the close of trading on the day Donald Trump was inaugurated . The average change for the S&P 500 during the course of a president’s first term is 43% going back to Eisenhower. It is too soon to tell whether this might affect the November election, which is now less than 8 months away. Here’s an S&P 500 chart since the inauguration:

Here’s a chart with the performance of every presidential term since Eisenhower (67 years).

Image via Investopedia

The New York Stock Exchanged will go Fully Electronic

Starting tomorrow, the NYSE will go fully electronic in response to the coronavirus.

Here’s the Economist with more. 

Stocktwits Social Sentiment Index

Stocktwits Social Sentiment Index reached its lowest reading ever on Friday matching the lowest close in the S&P 500 since February 2017. 

This is based on over 8,000 sentiment readings daily on the SPDR S&P 500 Index ETF ($SPY) stream. This is the largest social sentiment index in the world. Here’s a chart with Stocktwits Social Sentiment and the $SPY.

Scott Nations of the LA Times Op-Ed:

The stock market crashed five times before coronavirus. Those disasters can show us how to face this one.

Read the full post here.

Masters in Business Podcast: Dr. David Dunning Discusses Unknown Unknowns

PSA: The Google Coronavirus Website

Here’s the new Google website with a lot of good information.

The Week Ahead

And now a brief and well-organized look ahead at the trading week beginning Monday, March 23, 2020:

Economic Calendar:

3/24 February New Home Sales (10:00 AM EST)

3/25 EIA Crude Oil Inventories  (10:30 AM EST)

3/27 February Personal Income (8:30 AM EST)

3/27 February Personal Spending (8:30 AM EST)

3/27 February Personal Consumption Expenditures Prices (8:30 AM EST)

Here’s the full Economic Calendar provided by Briefing

Earnings Ahead:

Here’s Earnings Whispers’ great visual.

Be sure to know when your stocks are reporting. Here’s the full earnings calendar.