*Very Good Morning!!!*
*Coronavirus Death Toll*
3,254 people have died so far from the coronavirus COVID-19 outbreak as of March 04, 2020, 22:40 GMT.
There are currently 95,180 confirmed cases in 84 countries and territories vis a vis previous day there were 92,872 confirmed cases in 80 countries and 3087 deaths.
*Currently Infected (40, 483); Cases with Outcome: 54,697; Recovered/Discharged : 51, 543 (94%); Serious/Critical: 6,882 (17%); Mild Condition: 33,601 (83%).*
Sensex: 38410 (-214) (-0.55%)
Nifty: 11251 (-52) (-0.43%)
Dow: 27091: +1174: +4.53%
S&P: 3130: +127: +4.22%
Nas: 9018: +334: +3.85%
Brazil: 107224: +1687: +1.60%
Ftse: 6816: +97: +1.45%
Dax: 12128: +142: +1.19%
Cac: 5465: +72: +1.33%
WTI Oil: $47.10: +0.78%
Brnt: $51.75 (-0.29%)
Gold: $1638 (-0.41%)
Silver: $17.21: +0.13%
Copper: $258.7: +0.54%
Eur-$: 1.1134
GBP-$: 1.2868
$-Jpy: 107.57
Re: 73.2250 (-0.10%)
US10yr: 1.05%
GIND10YR 6.23 (-1.83%)
$ Index: 97.3860: +0.24%
Vix: 31.99 (-13.12%)
BalticDry: 549: +10: +1.86%
*ADR/GDR*
Cogni: +4.29%
Infy: +2.55%
Wit: +2.01%
IciciBk (-2.44%)
HdfcBk (-1.38%)
DrRdy: +3.69%
TataMot (-1.38%)
Vedanta: +0.77%
TatSt (-1.95%)
Axis (-2.85%)
SBI (-4.18%)
RIGD (-1.49%)
INDA (-0.09%) (IShares MSCI INDIA ETF)
INDY (-0.09%) (IShares MSCI INDIA 50 ETF)
EPI (-0.32%) (Wisdom Tree India Earning)
*Dow, S&P finish 4% higher as Wall Street warms to surprise Fed rate cuts, Biden campaign momentum: Dow, S&P 500 see 3rd move of 4% or more in either direction in the last five trading sessions, the most 4% moves in that time frame since August 2011.*
*U.S. stocks surged to close higher Wednesday, as investors warmed to the Federal Reserve’s surprise interest rate cut and support from other central banks, as well as former Vice President Joe Biden emerging as the frontrunner of the Democratic Party’s presidential race; Congress authorized nearly $8 billion for virus prevention. Treasuries fell for just the second time in 10 days.*
With Wednesday’s rally, all three major averages moved out of correction territory, meaning they are now less than 10% down from their 52-week highs. The tech-heavy Nasdaq also turned positive on the year, up 0.5% in 2020; the S&P 500 was down 3.1% and the Dow was 5.1% lower over the same period.
*Stocks opened higher on speculation other central banks and governments would provide stimulus as the outbreak claimed more lives and new cases piled up.*
What tends to happen with rate cuts, especially with surprise ones, is that sometimes it takes the market a couple of days to come to a conclusion about it. If you are bullish, this is fantastic. The Fed is getting out ahead of any weakness in economic data to restore confidence.
*Analysts also were attributing the gains for stock indexes to former Vice President Joe Biden’s strong showing during the Democratic primary contest on Tuesday night.*
*Biden’s string of Super Tuesday victories, winning 10 of 14 states including Texas, was seen as blunting the momentum of Bernie Sanders, a candidate that has been characterized by some on Wall Street as antibusiness. Analysts say Sanders’ agenda threatens to upend several industries including health care.*
*Biden emerged as the front-runner in a narrowing race for the Democratic presidential nomination following a string of primary victories, providing relief to market participants who are wary of the more progressive policy positions of rival Bernie Sanders, a self-described democratic socialist. Sanders’ embrace of a Medicare for All healthcare policy that would essentially abolish private insurance had cast a shadow on healthcare stocks.*
*Tuesday’s primary results sent health-care stocks flying. The S&P health care sector surged 5.8%, posting its best day since 2008. UnitedHealth and Centene jumped 10.7% and 15.6%, respectively. Shares of UnitedHealth had their biggest one-day gain since 2008.*
*Investors fear Bernie because he wants to cut off the head of capitalism by raising taxes significantly on the rich and using th
By: via @AlliesFin Serve T.ME/ALLiESFiN
