20.03.2020 S&P 500 Daily Analysis

20.03.2020 S&P 500 Daily Analysis

Today S&P 500 is trading at $2409.41 and is still recovering. S&P 500 had it`s the second-best year in its 11-year run in 2019 as it went up by 29%. However, because of coronavirus pandemic in less than 4 weeks, its gains from 2019 have been wiped out. Coronavirus fears triggered panic selling as investors fled to safe havens such as gold. On Thursday, a day after US President Trump invoked the Defense Production Act when the market opened we saw the US Stock Market recovering. The US Government has been able to calm investors with the measures they have taken to combat the coronavirus pandemic. S&P 500 recovered with companies such as Facebook have gone up by 5.8%, Amazon +4.3%, Microsoft +4.2%, and Google +2.3%, at the time of writing this article. These measures included the congress releasing $8.3 billion to combat the spread and to develop vaccines. On Wednesday, US President Trump signed another $150 billion-pass plan after approval from lawmakers for free testing and paid sick leave including expanded safety-net spending. The stimulus plan to give every American a check of $1000 is still under discussion. The Treasury Department is discussing a plan to provide $300 billion for small and upcoming businesses and $150 billion for loan guarantees to other distressed economic sectors.