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.
Coronavirus Aid Bill
More details on the coronavirus aid bill have been released. Here’s the latest as of this morning:
-$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:
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.
Here’s Earnings Whispers’ great visual.
Be sure to know when your stocks are reporting. Here’s the full earnings calendar.