🇺🇸 The U.S. Just Became the Country with the Most COVID-19 Cases. What Does This Mean for the Market?

Well, that escalated quickly. The U.S. has now overtaken China as the "most infected" country in the world.
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Good morning. Well, that escalated quickly. The U.S. has now overtaken China as the "most infected" country in the world. One of the things about the tally of total COVID-19 cases is that it's based on how many people you test.

Increase the amount of people you're testing, and you'll find more cases. It's likely that even this elevated official count is close to one-tenth the actual number.

On the bright side, the mortality rate might be significantly less than 1%. As things escalate further, find things that make you happy and don't fear.
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MARKETS
DOW 22,552.17 +6.38%
S&P 2,630.07 +6.24%
NASDAQ 7,797.54 +5.60%
*As of market close
Stocks rose 6.24% yesterday, as the Dow has its biggest 3-day rally since 1931.
Oil traded lower by 5.84%, as U.S. government suspends plans to buy oil.
Gold rose 0.78%, as the rush for gold eases.
Cryptocurrencies traded higher, with Bitcoin finishing 0.9% higher closing at $6690.

Today's TOP TIPS
3 Defensive Food Distribution Stocks that are Staging an Offensive
As state and local officials continue to escalate measures they're taking to "flatten the curve" of the spread of COVID-19, people still need to eat. Right now, investors are feasting on these names from the Food Distribution industry.

Over the past week, this industry is up over 40% over the past week and is part of the Distribution Services industry group which topped the performance list on Thursday.

» FULL STORY

Is the One Week Honeymoon Over for Cruise Lines? Option Traders Seem to Think So
It's only been a couple of weeks since Norwegian Cruise Line Holdings (NCLH) and Royal Caribbean Cruises Ltd (RCL) announced that they were suspending all cruises from March 13 through mid-April.

As the cases of COVID-19 continue to increase, one wonders whether that is the best-case scenario for these companies. On Thursday, there were over 4000 27 MAR 20 $15 puts bought for $0.45 to $0.75 with only one day to expiration.

» FULL STORY

Insiders Appear Exhausted Following the Recent Rally in this Fitness Company
It was only late last year that Peleton Interactive, Inc (PTON) cut the cost of their subscription from $12.99 to $19.49 per month. It came at a good time as gyms around the country close and people are looking to get exercise.

Since the price break was announced, they've seen a five-fold increase in downloads. With that news, Hadley Harbor Master Investors, over a 10% owner in PTON, has sold close to 5 million shares in PTON since March 17.

» FULL STORY

IN OTHER NEWS
Pelosi expects bipartisan House vote for $2 trillion coronavirus bill Friday
Factbox: What's in the $2.2 trillion Senate coronavirus rescue package
GM extends North American shutdown, does not set restart date
Federal Reserve's Balance Sheet Tops $5 Trillion for First Time
GameStop Rallies After Cost-Cutting Progress Renews Optimism
U.S. Egg Prices Surge to Record, Depleting Inventory for Easter
The world is running out of tanks to store oil as coronavirus and price war lead to flood of crude
Germany and the Netherlands seem to fight off the virus better than most — here's why
As number of coronavirus cases rises, Gov. Cuomo says New York City hospitals only have enough protective gear for the short term
Mortgages See Swift Turnaround on Fed Buying, Falling Volatility

S&P 500 MOVERS
TOP
COTY 24.164%
SYY 17.152%
CFG 16.996%
FITB 16.869%
KEY 16.701%
BOTTOM
MAC 10.737%
M 10.136%
NCLH 7.37%
GPS 5.902%
LB 5.671%

Quote of the Day
It took 67 days from the first reported case to reach 100,000 cases, 11 days for second 100,000 cases, and just four days for the third 100,000 cases.
- Tedros Adhanom Ghebreyesus, WHO Director-General, quoted by CNBC

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