Wednesday, March 11, 2020

A Bounceback Day

Following historic drops for all three major indexes on Monday, they all gained roughly half of that back yesterday. The S&P 500 and the Dow Jones Industrial Average each rose 4.9 percent, while the Nasdaq Composite was up 5 percent. In other economic news:

  • Airline shares took off: American Airlines shares closed about 15 percent higher, while Delta shares jumped 4.5 percent, and Southwest shares were up more than 4 percent.
  • After the 10-year and 30-year Treasury fell to all-time lows on Monday, the 10-year yield bounced back 30 basis points to 0.80 percent yesterday, while the 30-year yield was up 29 basis points to 1.31 percent.
  • After losing 25 percent Monday, their worst day since the 1991 Gulf War, crude oil prices rebounded, with West Texas Intermediate crude rising 10.4 percent.

No comments:

Post a Comment