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4.03 - Wall Street is preparing for coronavirus

10.04.2019

 

And so we are finally here – US Fed has finally cut the rates in order to compensate the impact from coronavirus. This is a very strong and very alarming message to all of the countries of the world: there need to be stimuli. Otherwise some of the economies might not survive the impact from the virus. Of course, there are people who still thing that the virus is a hoax, which means that some of the countries are not going to take any measures to prevent the meltdown of the economies, which can lead to a very serious economic crisis not only locally, but globally.

 

Wall Street is also preparing. Today we can see that just a small portion of the American shares is growing. For the most part. Prices for American stocks are slipping, which means that Wall Street is going to see one more weak session, if not several of them. This is going to impact USD and American economy a lot, so we better watch out.

 

Currencies are also at a loss. With USD having its rates cut, it is easy to imagine that all of the other currencies are going to use this opportunity to grow. And if you think that, you are right! EUR and GBP are gaining price, Canadian dollar is nudging lower. Yan is the only one pushing back but that is only because it is a safe haven.

 

Precious metals keep on with the climb. It has been one of the best uptrends for the metals in the recent history. Gold is brining all of its counterparts higher. Oil is growing too. Will OPEC cut the output? Well, that is a possibility. The effect from it is going to be awesome, I presume.

 

Here are the main changes for today:

 

Topix grew a little bit percent.

Kospi added 2.15 percent.

Shanghai Composite dropped lower percent.

Hang Seng from Hong Kong was barely moved percent.

S&P 500 futures added 1.1 percent.

Euro added 0.1 percent - $1.1162.

Pound decreased 0.3 percent - $1.2814.

Yen grew 0.45 percent – 107.34 per dollar.

Canadian dollar dropped 0.1 - $1.3353.

Tesla increased 0.25 percent - $745.51.

Apple lost 3.2 percent - $289.32.

Facebook plummeted 5.4 percent – $185.89.

Amazon decreased 2.3 percent – $1908.99 per share.

Google lost 3.5 percent - $1337.72.

WTI grew 1.7 percent - $47.85 per barrel.

Brent recovered 1.4 percent - $52.55 per barrel.

Gold increased 0.25 percent - $1644.69 per ounce.

Silver grew 0.7 percent - $17.31 per ounce.

Platinum increased 1.2 percent – $889.56.

Palladium lost 0.4 percent - $2494.7 per ounce.