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US stock futures are flat following back-to-back rallies on Wall Street

US stock futures are flat following back-to-back rallies on Wall Street

Finance
The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020.Jeena Moon | ReutersU.S. stock futures were little changed on Monday after Wall Street posted consecutive rallies to end last week amid the prospects of the global economy reopening soon.Dow Jones Industrial Average futures implied an opening loss of less than 50 points. S&P 500 and Nasdaq 100 futures were also trading nearly flat. The S&P 500 gained more than 1% on Thursday and Friday, leading to the broader-market average's first weekly advance in three weeks. On Friday, investors shrugged off the biggest one-month job losses on record as expectations of an economic reopening outweighed the neg...
British PM Boris Johnson taking ‘short walks’ in hospital: Downing Street

British PM Boris Johnson taking ‘short walks’ in hospital: Downing Street

World
April 10 (UPI) -- British Prime Minister Boris Johnson has been able to briefly walk in his hospital room as he recovers from COVID-19, a statement from the British government said Friday. "The prime minister has been able to do short walks, between periods of rest, as part of the care he is receiving to aid his recovery," a news release from Downing Street said. "He has spoken to his doctors and thanks the whole clinical team for the incredible care he has received. His thoughts are with those affected by this terrible disease," the statement said. Johnson was transferred out of intensive care Thursday at London's St. Thomas' Hospital after spending three nights in the intensive care unit as he recovered from COVID-19. The British prime minister was taken to the hospital Sunday after 10...
The market is so haywire some Wall Street strategists threw in the towel on giving S&P 500 targets

The market is so haywire some Wall Street strategists threw in the towel on giving S&P 500 targets

Finance
The stock market has gone so haywire amid the coronavirus crisis that some strategists on Wall Street are giving up on forecasting what comes next.Over the past week or so, chief market strategists at BMO, Oppenheimer and Canaccord Genuity have all suspended their year-end targets on the S&P 500, blaming the unprecedented economic uncertainty that makes projecting the market a fool's errand."For the first time in our collective careers, we have decided to suspend our year-end S&P 500 price and EPS targets in favor of rolling 12-month forecasts," BMO's Brian Belski and Nicholas Roccanova said in a note. "We believe there is minimal rational method for predicting the path of US stocks given the rapidity and volatility of data, forecasts, and emotions on a nearly d...
Wall Street braces for more market volatility as wild swings become the ‘new normal’ amid coronavirus

Wall Street braces for more market volatility as wild swings become the ‘new normal’ amid coronavirus

Finance
Traders work during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City.Johannes Eisele | AFP | Getty ImagesThe S&P 500 has never behaved like this, but Wall Street strategists say get used to it. Investors just witnessed the equity benchmark swinging up or down 2% for four days straight in the face of the coronavirus panic.In the index's history dating back to 1927, this is the first time the S&P 500 had a week of alternating gains and losses of more than 2% from Monday through Thursday, according to Bespoke Investment Group. Daily swings like this over a two-week period were only seen at the peak of the financial crisis and in 2011 when U.S. sovereign debt got its first-ever downgrade, the firm said."The message to...
A full analysis of the market turmoil: What Wall Street pros are watching before jumping back in

A full analysis of the market turmoil: What Wall Street pros are watching before jumping back in

Finance
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., February 28, 2020.Brendan McDermid | ReutersThe stock market has rushed with historic speed to an extreme place. This means, among plenty else, that the tape is becoming stressed and stretched in a way that tends to precede the kind of reflex rally that is sudden, powerful and probably untrustworthy.The damage toll from the 12% collapse in seven trading days is a litany of rarities. On the highest weekly volume in nearly a decade, the selling became indiscriminate and generated oversold readings for the record books. Fewer than 20 stocks in the S&P 500 are still above their 50-day average price.The broad Dow Jones Composite index went from a 52-week high to 52-week low in ten trading days, fast...