5:25:58 PM PDT - Friday, April 3rd, 2020

U.S. Stock Futures Dip After Three-Day Rally as Virus Cases Grow  

By Editor - Thu Mar 26, 9:51 pm

(Bloomberg) — American stock futures declined, cooling off after the first three-day rally since February, as the U.S. overtook China for the most coronavirus cases worldwide.Contracts on the S&P 500 were down 1.2% at 2,577.50 as of 12:23 p.m. in Tokyo. The underlying gauge surged almost 18% over Tuesday-Thursday in the biggest rally since 1933, while the Dow Jones Industrial Average climbed 20% above its recent low, meeting the technical definition of a bull market.U.S. virus cases topped 82,000, surpassing the total in China, amid at least 6,448 new cases in New York state. Still, the market’s recent gains show investors have grown confident that a $2 trillion stimulus package and fresh assurances from the Federal Reserve may be enough to rescue the economy from a deep recession. “If history holds true, the market crash playbook suggests that this week’s significant rally will eventually be faded,” Ed Moya, a market analyst at Oanda Corp. in New York, wrote in a note

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U.S. Stock Futures Dip After Three-Day Rally as Virus Cases Grow

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