Friday 17 April 2020

Climbing into the weekend

US equity indexes closed very significantly higher, sp +75pts (2.7%) at 2874. Nasdaq comp' +1.4%. Dow +3.0%. The Transports settled +3.2%.




US equities opened very significantly higher, on late Thursday news that Gilead Science's Remdesivir might be useful for treating Corona. The SPX broke an early new cycle high of 2862, some choppy cooling to 2830, but a late ramp to print a new cycle high of 2879.


Ms. Yoon of CNBC with the latest data from CCP.

The 'official' Q1 GDP print came in at deeply recessionary -6.8%. I emphasise 'official', as the real number is almost certainly at least -10%.

Volatility was itself subdued, the VIX melting lower into the weekend, settling -4.9% at 38.15.

Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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