At 8:30 a.m. the weekly jobless report was released.
6.6 million new unemployment claims.
The total new claims now number 16.6 million in three weeks.
Let’s put that in prospective. During the Great Recession a total of 8.8 million people lost their jobs. And that happened over a two-year period from January 2008 – February 2010.
Now, this jobless report is horrible news . . .
Yet the U.S. Federal Reserve was at the ready. Within two minutes of the jobless report being released . . .
The Fed unveiled plans for another $2.3 trillion in loans.
The new loans will be used to support small and mid-sized businesses. Plus, the funding will extend to U.S. cities and states.
Part of the Fed’s plan is to buy up debt in U.S. companies. Plus, the Fed will now buy lower-grade debt and even purchase shares in Exchange Traded Funds (ETFs) that own low-grade debt.
Next week we’ll start to understand how the outbreak is affecting corporate America (click here to discover the secret to low-risk Overnight Trades).
“Earnings season” starts next week as Wells Fargo, JP Morgan, Johnson & Johnson, Morgan Stanley and Citigroup report results.
It’s almost impossible to predict the earnings results. Yet the results will NOT be good . . .
That’s why I’m using this “Overnight Trading” strategy to earn huge profits in less than 24 hours.
This strategy could have turned a small $5k investment into over $845,244!
Go here for urgent details – before next week’s first trade.
The Big News . . .
90% of Hospitalized Patients Had Underlying Condition
The Centers for Disease Control and Prevention has analyzed patients who have been hospitalized. 90% of those hospitalized had at least one underlying health condition. Older people were more likely to be hospitalized. And more men than women end up in the hospital.
Virus Came to U.S. Via Europe – NOT China
Two new studies confirm that the virus came to the U.S. from travelers in Europe. It was circulating in New York by mid-February – weeks before the first confirmed case.
Citigroup: Earnings Will Be Horrific
Strategists at Citigroup are warning clients. Earnings season starts next week and the numbers will be “pretty horrific.” The firm views the recent gains for stocks as temporary. The markets could move lower as earning results are released. Don’t try to predict earnings. Go here to discover the quick “Overnight Trading” secret.
Trump Requests $250 Billion for Small Businesses
President Trump is requesting an additional $250 billion. Republicans in the Senate appear to support the measure. Yet Democrats also want an additional $100 billion for hospitals and $150 billion for state and local governments. If everyone got what they wanted, the total bill would be $500 billion. That would be on top of the previous $2 trillion stimulus.
The Coronavirus Numbers
Here are the numbers from Thursday morning at 9:30 a.m. ET.
- 1,536,094 Infected worldwide
- 89,877 Deaths
- 435,167 Infected in the U.S.
- 14,797 Deaths in the U.S.
The outbreak will crush U.S. corporations and their earnings. Earnings reports start next week.
Don’t try to trade earnings season. Just use these quick “Overnight Trades” and you could WIN +80% of your trades. Go here for urgent details.
Stocks were lower in pre-market trading – based upon the horrible jobless report.
Following the jobless report, news that the Fed would step up to the rescue sent stocks higher yet again.
Major U.S. indices gained more than 1% on the news that the Fed would spend another $2.3 trillion to shore up debt from U.S. companies, cities and states.
Right now, the market is brushing off the economic pain.
While the Fed can help shore up debts, it cannot stop the virus. And the Fed cannot make Americans feel safe enough to leave their homes and go back to work.
All eyes will be on corporate earnings next week.
Given the size of this crisis, it’s nearly impossible to predict earnings season WINNERS and LOSERS. Instead, I’m planning to use this Overnight Trading strategy.
It could let you turn $5k into over $845,244 no matter what happens with earnings.
Yours in Health & Wealth,