Bitcoin Jumps $9,100 as Dow Prepares For Massive 400-Point Open

Bitcoin breaks above $9,100 hours ahead of New York opening bell. The gains surfaced as the futures linked to Dow Jones suggested a 400-point rally after Wednesday’s open. Investors also felt buoyed by Goldman Sachs’s early morning call with clients on Bitcoin. Bitcoin closed above $9,100 in a surprising upside move after trading sideways for the entire Asian and early European trading session Wednesday. The benchmark cryptocurrency topped near $9,191 less than two hours ahead of the New York opening bell. The wild move upside took only a couple of…

This Is Why the Dow Ignored Another Dire Unemployment Report

The Dow Jones powered higher on Thursday as risk-taking returned on Wall Street. Stock market bulls remain immune to the dire unemployment figures coming out of the U.S. Many economists view the future as uncertain, with a growing consensus emerging that there will be no quick fix for the global economy. The Dow Jones enjoyed a strong bounce on Thursday, as bullish momentum outstripped yet another dire initial jobless claims figure. Uncertainty remains the order of the day, but stock market bulls cling to Chinese data and vaccine hopes as…

Dow Jones Braces for Worst Jobs Report in U.S. History

The stock market is bracing for the worst jobs report in American history. If past monthly updates are anything to go by, the Dow will slide in response to Friday’s posting. And with the jobless rate set to rise further, this stock market headwind could fester for many months to come. The Dow Jones is bracing itself for what economists predict will be the worst monthly employment report in American history. On Friday, the U.S. Department of Labor is expected to confirm that upwards of 20 million Americans lost their…

Dow Rockets after Japanese Coronavirus Antibody Breakthrough

The Dow Jones Industrial Average (DJIA) jumped higher on Thursday. Another coronavirus treatment breakthrough comes from Japan’s Kao Corporation and Kitasato University. China’s export numbers defied expectations to rise 3.5% in April, bolstering investor sentiment. The U.S. stock market is back in risk-on mode today, with the Dow Jones Industrial Average (DJIA) rocketing around 300 points higher during the morning session. The move comes as yet another promising coronavirus treatment was announced overnight. Researchers at Kitasato University and Kao Corporation revealed a new antibody that ‘neutralizes’ the coronavirus in a…

Dow Futures Wobble as Shaky Investors Opt for King Dollar

Dow Jones futures drifted between narrow gains and losses Wednesday evening. The U.S. dollar strengthened the most for three weeks, underscoring investors’ anxiety about the economy. Corporate earnings continue to trend lower, with FactSet forecasting the worst quarter since 2009. U.S. stock futures fumbled around the break-even point Wednesday night, as dismal corporate earnings and economic data put a cap on the so-called coronavirus rally. In the background, investors continued to move into cash–specifically, the U.S. dollar–for its perceived safety during times of economic and financial uncertainty. That ‘safety net’…

The Dow Is Paralyzed Because Stock Market Bulls Ran Out of Good News

The Dow Jones suffered a renewed bout of paralysis on Wednesday. With no sign of a return to normal, investors are running out of good news to power the stock market. U.S.-China tensions are mounting, even as the coronavirus continues to fester uncomfortably throughout the country. A seemingly-lifeless Dow Jones Industrial Average (DJIA) sputtered toward the closing bell after another day of disquietingly-rangebound trade. With China tensions on the rise and the coronavirus showing few signs of slowing its spread in the United States, it seems Wall Street has for…

Dow Darts Higher – But Will Backbreaking Unemployment Stunt the Rally?

The Dow Jones enjoyed a triple-digit gain on Tuesday. Wall Street continues to focus on the positives as economic activity comes out of its deep freeze. But ING believes U.S. unemployment could hit 22% in May. The Dow Jones was off to the races on Tuesday as surprisingly-rosy economic data mixed with swirling optimism about the growing number of states that are winding down their coronavirus lockdowns. Stocks cut their gains ahead of the closing bell, but surging crude oil prices helped keep the major benchmarks firmly in positive territory.…

Why Dow Jones Bears May Unwittingly Launch the Stock Market Higher

Major stock market benchmarks have rallied more than 30% off their late-March lows. Yet short-interest in the S&P 500 remains remarkably high. JPMorgan strategists believe short-sellers could launch the stock market higher – but what happens next? It’s been called the “most hated Dow Jones rally ever.” But unfortunately for cranky stock market bears, strategists believe it might have more room to run. S&P 500 Shorts Pile Up (Again) Although major benchmarks like the Dow and S&P 500 have rocketed more than 30% off their lows, there’s a remarkable number…

The Dow Is Eerily Calm – But Next Week Could Be Menacingly Volatile

The Dow Jones rallied on Friday as the U.S. stock market ended the week on a note of relative calm. President Trump signed another $484 billion stimulus package to support small businesses. Dow bulls are bracing for volatility, with a tidal wave of earnings, Q1 GDP, and the FOMC meeting all upcoming next week. The Dow Jones traded mostly sideways on Friday as Wall Street braced for what could be a week filled with menacing volatility as April gives way to May. Nearly half of the Dow’s 30 stocks will…

Dow Swings Wildly After Trial ‘Flop’ Ignites Coronavirus Drug Fears

The Dow Jones was knocked from its highs on Thursday after the leading candidate for a coronavirus treatment failed a big test. A strong start to the day saw the stock market initially shrug off another 4 million jobless claims. ING reports that less than half of working-age Americans will have a paycheck next month. A resurgent Dow Jones Industrial Average (DJIA) slammed into a wall on Thursday after Gilead Sciences’ experimental coronavirus treatment drug reportedly “flopped” in its first trial. The Financial Times broke the story, which triggered wild…