S&P 500 Marks Best Weekly Gainer Since 1974 on President Trump’s ‘Big Bang’ Fed Lending Program

S&P 500 Marks Best Weekly Gainer Since 1974 on President Trump’s ‘Big Bang’ Fed Lending Program

$DIA $SPY $QQQ $RUTX $VXX

The US stock market will be closed Friday for Good Friday.

Thursday, Wall Street closed out its best week in 45 yrs on after the Trump Fed launched its ‘Big Bang’ effort to support the economy through the coronavirus crisis.

The S&P 500 index posted it best weekly gainer since Y 1974, in a Easter Holiday shortened week, bolstered by aggressive global stimulus.

Under the Fed’s $2.3-T Big Bang Package it said it would work with banks to offer 4-yr loans to companies of up to 10,000 employees and directly buy bonds of states and more populous counties and cities.

On the week, the S&P 500 rose 12.1%. That is biggest 1-wk gainer since Y 1974, when it rallied 14%+.

The NAS Comp had its best week since Y 2009, up 10.6%.

The DJIA rose 12%+ for 1 of its biggest weekly gainers in it history.

Thursday, the major US stock market indexes finished at: DJIA +285.80 at 23719.37, NAS Comp +62.67 at 8153.57, S&P 500 +39.84 at 2789.82

Volume: Trade on the NYSE came in at 1.51-B/shares exchanged

  • NAS Comp -9.1% YTD
  • S&P 500 -13.7% YTD
  • DJIA -16.9% YTD
  • Russell 2000 -25.3% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Neutral to Very Bullish at the week ended 9 April 2020.

Looking Ahead: No data is scheduled Monday.

Have a happy healthy Easter and Passover weekend, stay home, Keep the Faith!

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