🇺🇸 US: News of cases flattening in New York sends share prices skyrocketing as social distancing efforts show results.
🌐Learn more at fidelity.com, Bloomberg.com
🤵Federal Reserve: “Federal Reserve will establish a facility to facilitate lending to small businesses via the Small Business Administration’s Paycheck Protection Program (PPP) by providing term financing backed by PPP loans.”
🌐Learn more at the federalreserve.gov
Michael’s view: What may have been a dead cat bounce in the market as historical performance would suggest from previous recessions, the markets will recover in a U-shape as news of coronavirus will continue to be released. The markets uncertainty won’t last for the long-term and I believe now is the best time to hold my positions.
🏪 U.S. Small Business: The Payroll Protection Program or PPP, offers small business lending by the Federal Reserve facilitation through the Small business administration. The loan is designed to keep workers on payroll and the SBA will forgive all loans.
🌐Learn more at sba.gov
📈 Financial Markets Overview
*Market Snapshot End of day 4/6/2020
US Stock Market – DJIA: +7.73%
Europe Market – Global Dow Realtime EUR: +4.89%
Asia Market – NIKKEI 225 Index: +4.24%
*Learn more at marketwatch.com
Statistics show signs of cases leveling off in New York City.