Penny Stock Popping on Vaccine Update

The Fed's surprise rate cut comes in the wake of economic coronavirus headwinds

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Midday Market Check
MIDDAY MARKET CHECK
 
 

3/03/2020
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Emergency Rate Cut Sends Stocks Volatile Midday

By Emma Duncan
Share On

The Dow Jones Industrial Average (DJI) is off over 555 points midday, as Wall Street digests the Fed's decision to make an emergency rate cut by half a percentage point, to ease the impact of coronavirus-related economic headwinds. This news is devastating the financial sector, with some investors initially pricing in a larger effort from the central bank. While the blue-chip index originally swung 300 points higher this morning, the surge was short-lived. Both the tech-heavy Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are significantly lower as well.

Continue reading for more on today's market, including: 

  • Weed stock suffers pullback on earnings blunder.
  •  Penny stock popping on a COVID-19 update.
  • Plus, the biotech buyout to watch; and some of the best (and worst) stocks to watch out for today.
>> Continue reading...
LATEST HEADLINES
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>> Dow Futures Brush Off G-7 Coronavirus Uncertainty
The blue-chip index is signaling triple-digit gains going into today
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