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Let's see what happens to the markets next week and after. IMO, much better to stay in safe (or safer) stocks for some time given the current environment.
noveckingood - i would not necessarily disagree, especially after watching JTMacs documentary.
the secret society and NWO are going tobring the US down..
I totally agree with you amers, he's only interested in the markets and is desperate to be re-elected, his businesses have got their own big problems to solve too.
the US are building up big structural problems that will be really hard to fix once the downturn becomes less corona centric - more and more cheap money which will be increasingly hard to service and repay.
I'm happily still riding the roller coaster back up but I think with earnings season starting next week it's been a bit overdone. Reduced some more longs yesterday and have been increasing and decreasing market shorts on the volatility. We're not out of the woods yet.
Amers - may i suggest you direct your disagreement at the BBC. it is their claim. i was but the messenger.
Donald will force the FED to throw money, as he wants to be elected again in few months time.
Bigsmoke - I do not entirely agree with what you have posted, World economy is held up with sticky plasters. You posted Wall Street's S&P 500 shares index has risen 12% this week, but you failed to say Wall street has fallen some over 20% in the last few weeks. Central Banks can and will throw money around like there is no tomorrow and at some stage they will say enough is enough. IMHO the World economy will get better in the short term, but will be in worse state, as the unemployment starts to rise. No one has said, as to how we are going to pay back the funds, that's been thrown at the economy. None of this money being given away is directed at the real needy ... I mean at the poor, there no mentioned by any MP's about number of people trying to get Unverisal Credit to make ends meet.
https://www.bbc.co.uk/news/business-52239979
US stocks have just recorded their biggest weekly gain since 1974 despite the bleak economic outlook.
Wall Street's S&P 500 shares index has risen 12% this week, as the US central bank announced more stimulus measures to support the economy.
Financial markets have experienced extreme volatility as the economic impact from the coronavirus worsens.
Gold prices hit a seven-year high with many investors still remaining cautious about the future of the global economy.
"It looks like the Fed are on a mission to blow holes in every dam that stops the flow of credit. And it sure sounds like they have plenty more dynamite if needed," said Stephen Innes, global chief market strategist at Axicorp.
"Markets have been encouraged by corona curves flattening in Europe, exits from lockdowns in China, and talk of economic reopening globally. The level optimism has caught virtually everyone by surprise."
On Thursday, the Federal Reserve said an additional $2.3 trillion was available to support debt markets saying it would act "forcefully, pro-actively, and aggressively" to combat an economic tidal wave.
The strong words came after data showed US jobless claims jumped by 6.6 million, taking the three-week total to more than 16 million unemployed and seeking benefits.
US jobless claims surge for third week
'Worst economic crisis since 1930s depression'
Oil producers agree to cut production by a fifth
The Fed's chairman Jerome Powell emphasised the central bank's measures were temporary, but that there was "no limit" to the dollar amounts it can deploy for programmes already on the books.
Markets were also lifted by comments from Anthony Fauci, director of the US National Institute of Allergy and Infectious Diseases, who said there may end up being fewer fatalities from the coronavirus than earlier forecast.
He placed the number at around 60,000 Americans, compared to earlier estimates of up to 240,000 deaths.