Investors are likely to face yet another roller coaster ride next week, after the past week's trade was the most volatile since the Financial Crisis of 2008. Coronavirus, the key driver of all this volatility continues to spread globally, forcing many countries to take extraordinary measures.
Over the weekend, Spain became the second European nation after Italy to lockdown its 46 million citizens as the virus's spread accelerated sharply. The U.S. extended its travel ban for the continent to include Britain and Ireland, in an effort to further control the pandemic.
As markets brace for more bad news, governments globally are trying to stave off the economic fallout by aggressively cutting interest rates and promising help for affected businesses and workers.
At the end of the week, U.S. House Speaker Nancy Pelosi announced that Congress reached an agreement with the White House on a bill which, if approved by the Senate, would offer free coronavirus testing to people with or without insurance, two weeks of paid sick leave and more money for Medicaid among other measures. As a result, Wall Street experienced a relief rally during Friday’s session. This just one day after the Dow Jones Industrial Average suffered its worst trading day since the 1987 “Black Monday” crash.
The Dow rallied 1,985 points, or 9.4%, to 23,185.62 — the largest point gain in the index’s history. While the coronavirus-related uncertainty is going to be the key driving factor for the markets this coming week, here are three mega cap stocks we're focusing on:
- APPLE
Apple (NASDAQ:AAPL) is closing all its retail stores outside Greater China, as part of the i
Phone maker’s efforts to slow the spread of the coronavirus to employees and customers.
AAPL Weekly TTM
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