The Fed's measures to get the U.S. economy back on track are giving stock futures a big boost
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| | 3/23/2020 | |
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Stock Futures Stage Surprise Bounce After Fed Decision | By Lillian Currens | | After swimming deep in the red this morning and earlier hitting a "limit down," Dow Jones Industrial Average (DJI) futures are getting a big boost after the Federal Reserve said it would be implementing new measures to combat the COVID-19 shakeup ravaging the U.S. economy. This includes an open-ended asset purchase program, allowing the Fed to buy assets to "smooth over market functioning and effective transmission of monetary policy to broader financial conditions and the economy.” These moves are overshadowing the U.S. Senate's split decision regarding a massive stimulus bill meant to combat the economic effects of the coronavirus, with Democrats criticizing the bill's huge efforts to bail out companies while ignoring the needs of workers. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also eyeing strong opens today, pivoting abruptly higher in the wake of the Fed's actions. Continue reading for more on today's market, including: - How CrowdStrike stock fared after its turn in the earnings confessional.
- Another look at Wall Street's extremely volatile week last week.
- Plus, 2 stocks skipping higher on analyst upgrades; and Amazon.com hikes overtime pay for warehouse workers.
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