Market Talk – Wednesday, March 25

New York is erecting four new hospitals to handle the coronavirus outbreak. At the time of this writing, there are over 25,000 confirmed coronavirus cases in NY and over 200 deaths. An order of 4,000 ventilators was sent to the state as well, but Governor Cuomo says that it is not enough and is requesting additional federal aid. The Four Seasons Hotel on 57th Street announced that it will provide free lodging to healthcare workers fighting the virus.

US Market Closings:

  • Dow advanced 495.64 points or 2.39% to 21,200.55
  • S&P 500 advanced 28.23 points or 1.15% to 2,475.56
  • Nasdaq declined 33.56 points or -0.45% to 7,384.29
  • Russell 2000 advanced 13.79 points or 1.26% to 1,110.34

Canada Market Closings:

  • TSX Composite advanced 568.15 points or 4.52% to 12,139.23
  • TSX 60 advanced 30.13 points or 3.9% to 802.55

Brazil Market Closing:

  • Bovespa advanced 5,226.27 points or 7.5% to 74,955.57

ENERGY:

The oil markets had a mixed day today:

  • Crude Oil increased 0.56 USD/BBL or 2.32% to 24.6600
  • Brent increased 0.04 USD/BBL or 0.15% to 27.5100
  • Natural gas decreased 0.013 USD/MMBtu or -0.70% to 1.8310
  • Gasoline increased 0.0827 USD/GAL or 14.37% to 0.6582
  • Heating oil decreased 0.0032 USD/GAL or -0.29% to 1.1089
  • Top commodity gainers: Ethanol (13.96%), Gasoline (14.37%), Bitumen (4.81%), and Palladium (19.03%)
  • Top commodity losers: Lean Hogs (-1.97%), Gold (-1.61%), Silver (-1.85%), and Lumber (-2.86%)

The above data was collected around 14.50 EST on Wednesday.

BONDS:

Japan 0.05%(+1bp), US 2’s 0.36% (-3bps), US 10’s 0.84%(+2bps); US 30’s 1.35%(-2bps), Bunds -0.29% (+3bp), France 0.21% (+2bp), Italy 1.56% (-4bp), Turkey 13.01% (+5bp), Greece 2.42% (-4bp), Portugal 1.01% (-4bp); Spain 0.88% (-2bp) and UK Gilts 0.44% (-3bp).

  • US 5-Year Note Auction decreased from 1.150% to 0.000%
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Disclosure: None.

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