Archives of “March 31, 2020” day

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China, North Korea, Russia, Iran are all ‘hard targets’ to get accurate coronavirus information from

  
  Analysis
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While we await action to come from the Asian time zone here is an interesting item on getting data on COVID-19 from some countries.

Via, Reuters, citing five U.S. government sources familiar with the intelligence reporting.
  • US agencies have limited insight into the full impact of the pandemic in the four countries, known by U.S. spy agencies as “hard targets” because of the heavy state controls on information and the difficulty, even in normal times, of collecting intelligence from within their closed leadership circles.
  • An accurate assessment of those countries’ outbreaks would aid U.S. and international efforts to limit the human and economic tolls from COVID-19, the disease caused by the coronavirus, experts say.
While we await action to come from the Asian time zone here is an interesting item on getting data on COVID-19 from some countries. 

China PMI data for March due Tuesday 31 March 2020 – preview

  
Analysis, Economy

The official PMIs from China are due at 0100GMT.

  • Manufacturing expected 44.8% m/m, prior 35.7%
  • Non-manufacturing expected 42.0% y/y, prior 29.6%
  • Composite prior 28.9
China went into the crisis earlier and have begun to emerge earlier. March data should begin to show improvement, February data is a low hurdle to clear.
Analysis I’ve seen on daily tracking of economic indicators from China are (slowly) showing a return to better activity. I won’t say ‘normal’, but activity is much better than in February.

US stocks close near session highs. Solid day higher.

  
Analysis, US Market
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Broad indices move up over 3% on the day

The US stocks moved up to a new session high but backed off just a bit into the close.  It was still a solid day higher.
The major indices are closing at:
  • S&P index rose 5.02 points or 3.35% to 2626.49.
  • Nasdaq index rose 271.77 points or 3.62% tp 7774.15.
  • Dow industrial average rose 688.32 points or 3.18% to 22325.10.
Although the price extended to new session highs in the major indices during the last hour, the volatility was a bit less than recent history. The snapshot at 3 PM showed:
  • S&P index up 70.44 points or 2.77% at 2611.91. The index moved up to a high of 2631.80 in the last hour.
  • NASDAQ index +225.28 points or 3.0% at 7727.66. The index moved up to a high of 7784.34 in the last hour
  • Dow up 526.39 points or 2.43% at 22163.12. The index moved up to a high of 22378.09 in the last hour.
Some winners today included:
  • Johnson & Johnson, +7.9%
  • Merck, +7.45%
  • Microsoft, +7.15%
  • Intel, +5.98%
  • Caterpillar, +5.88%
  • Facebook, +5.77%
  • Pfizer, +5.76%
  • Chubb, +5.32%
  • Nvidia, +5.15%
  • Coca-Cola, +5.04%
  • Walmart, +5.04%
  • Phillip Morris, +4.74%
  • IBM, +4.54%
  • General Mills, +4.42%
  • Gilead +4.30%
  • Adobe +4.22%

Some losers today included:

  • United Airlines, -8.08%
  • Boeing, -5.93%
  • Southwest Airlines -3.52%
  • Delta, -2.98%
  • Tesla, -2.43%
  • Papa John’s, -2.32%
  • Wells Fargo, -1.19%
  • Slack, -1.09%
  • Raytheon, -0.73%
  • DuPont, -0.62%
  • Lockheed Martin, -0.57%
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