Stocks Drift Higher Thursday Amid General Market Jitteriness

Author:
Publish date:
Video Duration:
1:12

Stocks moved into the green at least briefly Thursday. 

In general, the market has continued to look past fiscal and monetary stimulus measures taken by a government desperate to support the economy, as it likely falls deep into recession over what seems to be a stoppage in economic activity spurred by the Coronavirus. 

The Dow Jones and Nasdaq both inched above 1% by midday, with the S&P 500 hovering around flat, dipping in and out of the red and green. In the morning, stocks were down as much as 3%, across indexes. 

Investors have been jittery about the virus, which some say will cause GDP to decide 20% in the second quarter. Down days in stocks have been to the tune of 5% to 10%, while up days have been of the same magnitude. This has spurred trading stoppages in the form of circuit breakers and enforcement of the limit-up-limit-down rule, which says than price movements of 5% or more, in both directions, elicit a stop in trading for five minutes. 

Thursday has been a rare normal day in markets. 

Some on Wall Street have said that a sustained muted move in the market could potentially indicate the market is beginning to stabilize, as stocks are down almost 30% from their all-tome highs, which is a bear market. Still, some say the losses could worsen a bit from here before they stabilize. 

The virus is the ‘x’ factor. 

Catch up on the Latest Videos on TheStreet!

Related Videos