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Wall Street jumps as China steps ease virus impact worry

Published 02/04/2020, 04:08 PM
Updated 02/04/2020, 04:08 PM
© Reuters. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York

NEW YORK (Reuters) - The Nasdaq hit a record high on Tuesday and the S&P 500 posted its biggest one-day gain in nearly six months as fears of a heavy economic impact from the coronavirus outbreak waned after China's central bank intervened.

© Reuters. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York

The Dow Jones Industrial Average (DJI) rose 408.76 points, or 1.44%, to 28,808.57, the S&P 500 (SPX) gained 48.71 points, or 1.50%, to 3,297.63 and the Nasdaq Composite (IXIC) added 194.57 points, or 2.1%, to 9,467.97.

Latest comments

I have a thought for you guys. is it even POSSIBLE to have a depression or even deep recession with a government that can and ****sure WILL print any amount of money necessary to get things jump started again? I USED to think that was the worst king of manipulation and cheating. Now im wondering if the old way of just going straight into a 15 year depression that the RICH got fabulously rich off of wasn't the REAL cheating. I recall ALOT of big boy rich guys out there that got HOPPING mad at OBAMA for extending unemployment and loaning money too banks (they all paid it back in short order) could it be that they saw a chance to buy everything wed all worked our whole lives for -for pennies on the dollar and he was RUINING it for them? Just a thought. its for sure. true you cant have a 10 year recession when you can print up more money and start the economy right back up, as if your just starting a new game of. monopoly. im not sure I know WHAT could really stop this world cold anymore.
For those of you who are experienced traders and are aware of the reverse correlation between sentiment and market direction... I strongly suggest you read all the comments below this and just make a little tally as how many are bullish or bearish in sentiment. Then ask yourself how often you've seen a market crash when sentiment was 13-0 bearish? -not including mine and to be honest mine was bearish and sounded a whole lot like everybody elses until I got this funny feeling I was hearing an echo everywhere I went to read and post. Next, I suggest you look at what seems to be the common argument here, -that china banks can only cover up the problem they cant fix it. SERIOUSLY? Sound like the last 50 years of bearish arguments predicting the fed couldn't hide our debt for much longer. the first time I heard that was in 1980 when the dow was at 1000. it got revived at the 2010 bottom as we came up. cant fix the economy by pouring money we don't have on it.... dow was at 7500 then...
Article writers only present stories and/or ideas. We don't have to believe or agree. For instance, at this moment, I believe that the Market is on borrowed time and will tank with a big splash soon. I feel happy i have my money on it.
Peter, Im beginning to wonder if guys like us aren't the reason this market cant even get a decent pullback, much less crash. Your and MY thoughts remind me a whole lot of what people were saying about AMZN when it ran up to $300 and STILL wasn't making any money. its split since then. or aapl and its IPHONE that had to crash once everybody had one. I have been sitting here thinking... just how long am I going to keep trading CAT AND CMI and Oil stocks looking for a bottom that might never come because for the last 10 years ive FAILED to see that this is the new golden age and im MISSING it. writting paper- GONE, camera film -GONE. Coal all but gone. Is gasoline going to be NEXT?
Money printing will only make Bitcoin stronger. May have to load up on XRP so i can retire early
Global CBs will do whatever it takes to save stocks, including turning currencies into toilet paper.
you scared yet bro? market is brave already
It's not going to work this is too big.
Now I've seen it all.
can't wait until the second half this year and China's GDP is at 5 percent...sars decreased China's GDP by 1 percent
Just before the big crisis, there are such manipulations. It was expected, do you think they would allow to go down without helicopter money?
Bullitproof,irrational,and will only increase the pain we will have to go through...
Lots of manufacturing are closing in China they can trow all the money after market they want won't open those factories or magically cure ppl.. Is just getting started Sars was 100 days this way more infectious..
What nonsense logic!!!!??? Stimulus was given yesterday, and wall street is jumping today????Who the ****write all these news????
Whose nerves have been calmed?
this site must be broken, I dont know what futures their looking at.
I think the media is broken!
something is off that's for sure.
It was up 1% around 7am EST, but something caused a selloff.
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