FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
97,008,960Confirmed
2,074,994Deaths
69,568,281Recovered
Fetching Location Data…
Advertisement
Advertisement
David Becker

US stocks moved lower on Friday closing near the lows of the session. Futures ahead of the open were pointing to a 900-point decline in the Dow Industrials. The Dow was the worst performer declining by more than 4%. The House of Representatives passed the US assistance bill that was passed by the Senate on Thursday. The President is expected to sign the bill on Friday. The WHO announced they were going to being a trial of 4-different drugs for treatment for the novel coronavirus. US yields moved lower on Friday while the dollar tumbled another 0.8%. The dollar settled down more than 3.5% for the week but failed to lift commodities such as oil and gold. Sectors in the S&P 500 index were mixed, led down by energy shares. Oil prices fell, despite the largest drop in active rigs in history. Consumer sentiment dropped sharply declining to a 3-year low.

Energy Shares Decline

Oil prices headed south despite a larger than expected decline in active drilling rigs. Baker Hughes reported that the number of oil and gas rigs in the US fell again this week by 44, falling to 728, with the total oil and gas rigs clocking in at 278 fewer than this time last year. It is the largest single-week drop since February 2016.

Advertisement
Know where Gold is headed? Take advantage now with 

75% of retail CFD investors lose money

Advertisement

The Fed’s Balance Sheet Explodes

Federal Reserve’s efforts to keep markets running buoyed their asset portfolio to record levels. The Fed’s balance sheet ballooned to $5.3 trillion for the week. That’s well above the $4.52 trillion peaks it hit in mid-May 2016 before the Fed started rolling off the bonds it had acquired during and after the Great Recession.

Consumer Sentiment Tumbles

U.S. consumer sentiment fell to a three-year low according to data from the University of Michigan. The index of consumer sentiment dropped to 89.1 in March, its lowest level since October 2016,  from 101 in February. Expectations were for a fall to 90. March’s decline in sentiment was the fourth-largest in nearly 50 years.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US