Hey Scoopers,
The President and the Fed tried their best to save the stock market, but fear spread faster than Covid-19, and nothing was able to save the market – more on that in the “Overall Market” section.
Beyond the overall market, the oil war has brought a boom to one particular group of stocks. At the same time, fun became the latest victim of coronavirus pandemic — more on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, which industry will be the long-term winner of the Covid-19 pandemic? — more on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
Market Recap
- U.S. markets: All three indices finished Thursday in red so deep that the stock market experienced one of the worst days in its history. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price just fell off the cliff and finished under the $5,000 mark. Remember when it was $10,000 per coin? That was only a few weeks ago.
If you bought on the WORST day you made 400%
Stansberry says this new trend is going to cause tens of millions of people to lose their jobs… it will also cause many major bankruptcies… yet at the same time it will make millions of others, incredibly rich.
Don’t get left behind. Get the facts for yourself here
Even A $1.5 Trillion Plan Wasn’t Enough.
Despite a $1.5 trillion plan by the Fed, the stock market continued its downward spiral and experienced one of the worst trading days, only second to the 1987 Black Monday. The worry is not just Covid-19. The real worry is the potential impact on the economy if the forced work-from-home policy turns into a cut-back in salaries. In the U.S., consumer spending is the turbo engine of economic growth. People not having a salary to spend would be devastating to the economy.
Ship That Oil.
So, what happened?
Shares of DHT Holdings (Ticker: DHT) were up more than 12% on Thursday. Saudi Arabia’s plan to kill its Russian competition by shipping as much oil as it can and as cheap as it can is good for one particular group of stocks; the oil shipping stocks. DHT is an oil tanker company that is riding the wave. Its upward movement is even more impressive on a day that the rest of the market has dropped by more than 9%.
