At around 4:20 a.m. ET, Dow futures were 41 points higher, indicating an implied opening drop of about 11 points on Wednesday. S&P 500 and Nasdaq futures also pointed to a largely flat open.
“As [Tuesday’s] stock market shows, volatility is likely to remain for some time,” said Jim Paulsen, chief investment strategist at the Leuthold Group.
Goldman Sachs chief equity strategist David Kostin warned about a “bear market rally,” that appears like
“Risk to the downside is greater than the opportunity to the upside from this point where we stand today,” Kostin said on CNBC’s “Squawk on the Street” on Tuesday. “I would just remind you that in 2008 in the fourth quarter there were many different rallies, I call them bear market rallies, some of which almost 20% a couple of times — but the market did not bottom until March of 2009.”
“If the curve is bending, for the first time, some
JPMorgan’s market guru Marko Kolanovic said he expects a “limited” re-opening of the economy in two weeks. True to his
“We believe we’ve seen a peak in new case growth in the US 3-4 days ago, and then
On Wednesday, the Federal Open Market Committee publishes its meeting minutes from its March meeting. In an emergency decision ahead of that meeting, the Fed cut interest rates to zero, for the first time since the financial crisis.
Although the Fed’s minutes shouldn’t be market moving, investors will get some insight into what the central bank is using as justification for its historic easing measures.