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Exhale. Markets finally had a good day after what’s been quite the sh*t show over the past week and a half. Stocks rose out of the gate on the announcement that the coronavirus stimulus package was close to being signed (spoiler: it wasn’t).

All told, the Dow jumped 11%, finishing over 20k for the first time since last Wednesday, marking the largest single-day growth since 1933. The S&P and Nasdaq also had good days, gaining just over 9% and 8%, respectively, on the day.

We’re back, baby!

"NOT" - Borat

The bump was definitely a step in the right direction, but not all investors are sold that this is the bottom. Both monetary policy (read: low interest rates) and fiscal policy (read: the stimulus package) are in place to support the economy, and stocks, from crumbling. But the big surgeon-mask-wearing-elephant in the room is COVID-19. 

While investors were optimistic about markets’ rise today, without a clear picture as to when the impact of coronavirus will be over (hint: it won’t be by Easter), any negative report could send the market toppling once again.

Tech ups and downs

The recent conditions have sent two major stocks, Netflix and Disney, in opposite directions. The House of Mouse has been on a steady decline, dropping 40% from the beginning of the year. Meanwhile, Netflix stock price is up 9.2% YTD and has been profiting, as you can imagine, with people home and nothing to do but stream movies. And The Office, but mostly The Office. 

As a result, Netflix's market value rose past Disney’s, holding a $158B to $154B edge. Sorry, Mickey.

The bottom line...

Talk about a glass case of emotions. Markets, for the most part, are more temperamental than POTUS answering reporters at his daily press conferences.

Expect volatility to continue, especially with the jobs report coming out tomorrow. There have been a lot of layoffs lately but we will get a clear picture of the full carnage this week. It could either be Dow 15k, or Dow 25k by Friday. Yikes. 

Dow Soars More Than 11% In Biggest One-Day Jump Since 1933 [WSJ]

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