Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Indexes  >  USA  >  S&P 500    SP500

S&P 500

(SP500)
SummaryQuotesChartsNewsHeatmapComponents 
News SummaryAll newsNews of the components ofMarketScreener Strategies

Wall Street volatility raises fears of another selloff

share with twitter share with LinkedIn share with facebook
share via e-mail
04/07/2020 | 05:51pm EDT
A man crosses a nearly deserted Nassau street in front of the New York Stock Exchange (NYSE) in the financial district of lower Manhattan in New York

The evaporation of a rally on Wall Street in the closing minutes of Tuesday's session shows that many investors fear the U.S. stock market is in danger of a renewed tumble due to uncertainty surrounding the coronavirus pandemic.

Fueled by early signs of the outbreak plateauing in some U.S. hot spots, including New York State, the S&P 500 traded up as much as 3.5% during the session, only to lose ground sharply late in the day to finish down 0.16%. The index, however, remains up 19% from its March 23 low.

Much of Wall Street's recent recovery has been thanks to a $2 trillion package aimed at stimulating the economy as much of the country hibernates to slow the spread of the coronavirus.

Still, many investors remained skeptical that Wall Street's recent rise represents the start of a sustained recovery.

The S&P 500 is still down more than 20% from its Feb. 19 record high. However, most of the index's constituents are worse off. The median change in the S&P 500 since Feb. 19 is a decline of 26%. The index's largest components have mostly outperformed, including Microsoft and Amazon.

Graphic: Largest companies outperform S&P 500

Scott Wren, senior global equity strategist at Wells Fargo Investment Institute in St. Louis, is among many investors skeptical about the sturdiness of the recent rally.

"You're still vulnerable. Let's say the virus news turns worse. The market's not going to like it. Or the government can't get fiscal stimulus into the hands of businesses quick enough, that's going to be a problem," Wren warned.

With Saudi Arabia and Russia disagreeing about output cuts in the face of a swelling oil glut, the energy sector remains down 40% from Feb. 19.

Graphic: S&P 500 sector declines since Feb. 19

Consumer staples has been the S&P 500's best-performing sector, down about 10% since Feb. 19, steadied by a 10% gain in bleach maker Clorox.

Wall Street's 10 most valuable companies have lost a combined %1 trillion in market capitalization since Feb. 19, although one of them, Walmart, has actually increased its value by $12 billion as consumers staying home from work and school stock up on food and household goods.

Graphic: Market cap losses since Feb. 19

Shares of Regeneron Pharmaceuticals and Gilead Sciences, both working on coronavirus treatment drugs, have been among the S&P 500's top performers since Feb. 19, up 25% and 11%, respectively. Citrix Systems, which sells software helping organizations work online, has surged 19% in that time.

Graphic: A few stocks have gained since the S&P 500's Feb high

LPL Financial said in a research note that Wall Street remained vulnerable as investors await solid indications that the outbreak is not becoming worse.

"We continue to watch for signs of a peak in new cases in the United States, which would allow investors to start thinking about a resumption of economic activity and a potentially powerful economic rebound in the second half of this year. In the meantime, stocks may revisit the March lows," LPL Financial wrote.

By Noel Randewich

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 1.72% 2442.37 Delayed Quote.29.94%
CITRIX SYSTEMS, INC. 4.91% 148.12 Delayed Quote.33.56%
DJ INDUSTRIAL -0.07% 25383.11 Delayed Quote.-11.00%
GILEAD SCIENCES 3.33% 77.83 Delayed Quote.19.78%
MICROSOFT CORPORATION 1.02% 183.25 Delayed Quote.15.03%
NASDAQ 100 1.47% 9555.524843 Delayed Quote.9.42%
NASDAQ COMP. 1.29% 9489.872484 Delayed Quote.5.77%
REGENERON PHARMACEUTICALS 5.98% 612.81 Delayed Quote.63.21%
S&P 500 0.48% 3044.31 Delayed Quote.-5.77%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on S&P 500
02:48aWHAT'S NEWS : Business & Finance -- WSJ
DJ
05/29WALL STREET WEEK AHEAD : Investors eye consumer discretionary stocks as U.S. reo..
RE
05/29Wall Street ends mostly higher as U.S.-China spat simmers
RE
05/29Stocks end mostly higher on Trump China comments
RE
05/29WALL STREET STOCK EXCHANGE : Stocks Notch Big Monthly Gains
DJ
05/29Stocks rebound on relief at Trump's response to China over Hong Kong
RE
05/29Stocks rebound on relief at Trump's response to China over Hong Kong
RE
05/29Stocks rebound on relief at Trump's response to China over Hong Kong
RE
05/29WALL STREET STOCK EXCHANGE : Stocks End May With Big Monthly Gains
DJ
05/29WALL STREET STOCK EXCHANGE : Stocks Poised for Big Monthly Gains
DJ
More news
Chart S&P 500
Duration : Period :
S&P 500 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends S&P 500
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Top / Flop S&P 500
NORTONLIFELOCK INC. 22.78 Delayed Quote.8.79%
REGENERON PHARMACEUTICALS 612.81 Delayed Quote.5.98%
MARKETAXESS HOLDINGS INC. 508.59 Delayed Quote.5.19%
CITRIX SYSTEMS, INC. 148.12 Delayed Quote.4.91%
CISCO SYSTEMS, INC. 47.82 Delayed Quote.4.88%
HARLEY-DAVIDSON, INC. 21.34 Delayed Quote.-9.00%
APACHE CORPORATION 10.79 Delayed Quote.-9.10%
NORDSTROM, INC 16.13 Delayed Quote.-10.98%
COTY INC. 3.63 Delayed Quote.-13.37%
DXC TECHNOLOGY COMPANY 14.21 Delayed Quote.-14.24%
Heatmap :