All investors & traders must view the following news...

Why vaccine very very close to finalize soon......


##https://www.nytimes.com/interactive/2020/science/coronavirus-vaccine-tracker.html

All investors & traders must view the following news...

Why vaccine very very close to finalize soon......


##https://www.nytimes.com/interactive/2020/science/coronavirus-vaccine-tracker.html

Keyman188 foresee a lot of traders & investors will surprised by this 2 core pharmaceutical firms which dealing with Covid-19 vaccine will be reaching unprecedented level :-

1) Pharma - TP 10.00

2) Dpharma - TP 7.50


Keyman188 looking at long term growth due to following reason (which were highlighted by Minister) :-


1) Two government-linked companies (GLC) which are also pharmaceutical manufacturing facilities have been identified to do the "fill and finish" process for the Covid-19 vaccine once it's available


2) "The two companies have told the government that they are willing to take stock production and prioritise it for the Covid-19 vaccine when it is available.


3) If we have the capacity, we will also offer our fill and finish service to other countries.



@@ Keyman188 always like to repeat & repeat to remind "old people" like Keyman188 to avoid forgotten........

Keyman188 foresee a lot of traders & investors will surprised by this 2 core pharmaceutical firms which dealing with Covid-19 vaccine will be reaching unprecedented level :-

1) Pharma - TP 10.00

2) Dpharma - TP 7.50


Keyman188 looking at long term growth due to following reason (which were highlighted by Minister) :-


1) Two government-linked companies (GLC) which are also pharmaceutical manufacturing facilities have been identified to do the "fill and finish" process for the Covid-19 vaccine once it's available


2) "The two companies have told the government that they are willing to take stock production and prioritise it for the Covid-19 vaccine when it is available.


3) If we have the capacity, we will also offer our fill and finish service to other countries.



@@ Keyman188 always like to repeat & repeat to remind "old people" like Keyman188 to avoid forgotten........

The first Phase 3 coronavirus vaccine trial in the US is expected to begin next week. Here's how the vaccine works

Updated 0122 GMT (0922 HKT) July 25, 2020

Covid-19 vaccine shows 'promising' immune response results


(CNN)Much of the world has pinned its hopes on a vaccine as a way out of the Covid-19 pandemic that has infected more than 15 million and killed more than 630,000 people globally.

The World Health Organization says there are 25 potential coronavirus vaccines in clinical trials internationally.

Here in the United States, the government has put its money behind several different vaccine candidates through Operation Warp Speed.

One of those vaccines is being developed by the Vaccine Research Center at the National Institutes of Health's National Institute of Allergy and Infectious Diseases, in partnership with the biotechnology company Moderna. The vaccine is expected to enter Phase 3 testing next week. This phase of the trial is expected to involve 30,000 volunteers and will test whether the vaccine protects people against the coronavirus.

The vaccine uses messenger RNA (mRNA), which are cells used to build proteins -- in this case, the proteins that are needed to build the coronavirus' spike protein, which the virus uses to attach itself to and infect human cells. Once the immune system learns to recognize this target -- thanks to the vaccine -- it can mount a response faster than if it encountered the virus for the first time due to an infection.

Early results from the Phase 1 study were published in the New England Journal of Medicine in mid-July. The study showed that the vaccine, given at three different doses, triggered an immune response in the people who received it (the higher the dose, the higher the immune response). More than half of the participants experienced side effects including fatigue, chills, headache, muscle pain and pain at the injection site. The Phase 3 trial will involve the middle dose --100 micrograms (µg).

Dr. Barney Graham is the deputy director of the Vaccine Research Center. He spoke to Dr. Sanjay Gupta to explain a little bit about the technology behind the Moderna vaccine. What follows is a portion of their conversation, edited for length and clarity, to explain what is happening inside the body.


##https://edition.cnn.com/2020/07/24/health/moderna-vaccine-barney-graham-gupta/index.html

The first Phase 3 coronavirus vaccine trial in the US is expected to begin next week. Here's how the vaccine works

Updated 0122 GMT (0922 HKT) July 25, 2020

Covid-19 vaccine shows 'promising' immune response results


(CNN)Much of the world has pinned its hopes on a vaccine as a way out of the Covid-19 pandemic that has infected more than 15 million and killed more than 630,000 people globally.

The World Health Organization says there are 25 potential coronavirus vaccines in clinical trials internationally.

Here in the United States, the government has put its money behind several different vaccine candidates through Operation Warp Speed.

One of those vaccines is being developed by the Vaccine Research Center at the National Institutes of Health's National Institute of Allergy and Infectious Diseases, in partnership with the biotechnology company Moderna. The vaccine is expected to enter Phase 3 testing next week. This phase of the trial is expected to involve 30,000 volunteers and will test whether the vaccine protects people against the coronavirus.

The vaccine uses messenger RNA (mRNA), which are cells used to build proteins -- in this case, the proteins that are needed to build the coronavirus' spike protein, which the virus uses to attach itself to and infect human cells. Once the immune system learns to recognize this target -- thanks to the vaccine -- it can mount a response faster than if it encountered the virus for the first time due to an infection.

Early results from the Phase 1 study were published in the New England Journal of Medicine in mid-July. The study showed that the vaccine, given at three different doses, triggered an immune response in the people who received it (the higher the dose, the higher the immune response). More than half of the participants experienced side effects including fatigue, chills, headache, muscle pain and pain at the injection site. The Phase 3 trial will involve the middle dose --100 micrograms (µg).

Dr. Barney Graham is the deputy director of the Vaccine Research Center. He spoke to Dr. Sanjay Gupta to explain a little bit about the technology behind the Moderna vaccine. What follows is a portion of their conversation, edited for length and clarity, to explain what is happening inside the body.


##https://edition.cnn.com/2020/07/24/health/moderna-vaccine-barney-graham-gupta/index.html

Covid-19 Vaccine Latest Updates: Oxford’s Covishield in India by ‘end of year’; Pfizer shot shows promise

Coronavirus (Covid-19) Vaccine Latest Update: While the promising results showed by experimental Covid-19 vaccines being developed by University of Oxford and Moderna Inc in early human testing have grabbed the spotlight in the past week, raising hopes of early availability in the market, a World Health Organization (WHO) expert said their first use cannot be expected until early 2021.

“Several vaccines are now in Phase 3 trials and none have failed, so far, in terms of safety or ability to generate an immune response. Realistically, it is going to be the first part of next year before we start seeing people getting vaccinated,” Reuters quoted said Mike Ryan, head of WHO’s emergencies programme, as saying.

Meanwhile, latest results from Oxford university and Moderna show that two doses of a vaccine may be better than one in getting protection from the novel coronavirus.

Presently, there are more than 150 vaccine candidates that are in various stages of trials against the coronavirus, according to the World Health Organisation. Out of them, about two dozen are undergoing human clinical trials.

Oxford-AstraZeneca coronavirus vaccine status

Results published this week of early human trials of the AZD1222 vaccine, based on a chimpanzee adenovirus called ChAdOx1, developed by the University of Oxford and drugmaker AstraZeneca showed that it produced a dual immune response in people aged between 18 and 55 years.

The vaccine increased levels of both protective neutralising antibodies and immune T-cells that target the virus, according to the study organisers. “Our hope is that we can actually start delivering a vaccine before the end of the year,” Bloomberg quoted AstraZeneca Chief Executive Officer Pascal Soriot as saying.

A single dose of the vaccine elicited an increase in antibodies specifically against the spike protein by the first 28 days.

The Oxford shot is already undergoing a combined Phase II/III trials in the UK, Brazil and South Africa. The Serum Institute of India hopes to embark on phase III human clinical trials with the vaccine candidate by August and it may be launched as early as November.

Adar Poonawalla, CEO of Serum Institute of India, said the cost of the vaccine is estimated to be below Rs 1,000 and will be called Covishield in India.


##https://indianexpress.com/article/coronavirus/covid-19-coronavirus-vaccine-india-latest-update-covaxin-covishield-oxford-moderna-6519851/

Covid-19 Vaccine Latest Updates: Oxford’s Covishield in India by ‘end of year’; Pfizer shot shows promise

Coronavirus (Covid-19) Vaccine Latest Update: While the promising results showed by experimental Covid-19 vaccines being developed by University of Oxford and Moderna Inc in early human testing have grabbed the spotlight in the past week, raising hopes of early availability in the market, a World Health Organization (WHO) expert said their first use cannot be expected until early 2021.

“Several vaccines are now in Phase 3 trials and none have failed, so far, in terms of safety or ability to generate an immune response. Realistically, it is going to be the first part of next year before we start seeing people getting vaccinated,” Reuters quoted said Mike Ryan, head of WHO’s emergencies programme, as saying.

Meanwhile, latest results from Oxford university and Moderna show that two doses of a vaccine may be better than one in getting protection from the novel coronavirus.

Presently, there are more than 150 vaccine candidates that are in various stages of trials against the coronavirus, according to the World Health Organisation. Out of them, about two dozen are undergoing human clinical trials.

Oxford-AstraZeneca coronavirus vaccine status

Results published this week of early human trials of the AZD1222 vaccine, based on a chimpanzee adenovirus called ChAdOx1, developed by the University of Oxford and drugmaker AstraZeneca showed that it produced a dual immune response in people aged between 18 and 55 years.

The vaccine increased levels of both protective neutralising antibodies and immune T-cells that target the virus, according to the study organisers. “Our hope is that we can actually start delivering a vaccine before the end of the year,” Bloomberg quoted AstraZeneca Chief Executive Officer Pascal Soriot as saying.

A single dose of the vaccine elicited an increase in antibodies specifically against the spike protein by the first 28 days.

The Oxford shot is already undergoing a combined Phase II/III trials in the UK, Brazil and South Africa. The Serum Institute of India hopes to embark on phase III human clinical trials with the vaccine candidate by August and it may be launched as early as November.

Adar Poonawalla, CEO of Serum Institute of India, said the cost of the vaccine is estimated to be below Rs 1,000 and will be called Covishield in India.


##https://indianexpress.com/article/coronavirus/covid-19-coronavirus-vaccine-india-latest-update-covaxin-covishield-oxford-moderna-6519851/

Oh my God....

Why the youtube news from year 2016...

Damn funny joke....

Keyman188 foresee a lot of traders & investors will surprised by this 2 core pharmaceutical firms which dealing with Covid-19 vaccine will be reaching unprecedented level :-

1) Pharma - TP 10.00

2) Dpharma - TP 7.50


Keyman188 looking at long term growth due to following reason (which were highlighted by MOH) :-


1) Two government-linked companies (GLC) which are also pharmaceutical manufacturing facilities have been identified to do the "fill and finish" process for the Covid-19 vaccine once it's available


2) "The two companies have told the government that they are willing to take stock production and prioritise it for the Covid-19 vaccine when it is available.


3) If we have the capacity, we will also offer our fill and finish service to other countries.



##https://www.nst.com.my/news/nation/2020/07/608625/2-glcs-identified-bottle-covid-19-vaccine-says-kj

Keyman188 foresee a lot of traders & investors will surprised by this 2 core pharmaceutical firms which dealing with Covid-19 vaccine will be reaching unprecedented level :-

1) Pharma - TP 10.00

2) Dpharma - TP 7.50


Keyman188 looking at long term growth due to following reason (which were highlighted by MOH) :-


1) Two government-linked companies (GLC) which are also pharmaceutical manufacturing facilities have been identified to do the "fill and finish" process for the Covid-19 vaccine once it's available


2) "The two companies have told the government that they are willing to take stock production and prioritise it for the Covid-19 vaccine when it is available.


3) If we have the capacity, we will also offer our fill and finish service to other countries.



##https://www.nst.com.my/news/nation/2020/07/608625/2-glcs-identified-bottle-covid-19-vaccine-says-kj

Keyman188 foresee a lot of traders & investors will surprised by this 2 core pharmaceutical firms which dealing with Covid-19 vaccine will be reaching unprecedented level :-

1) Pharma - TP 10.00

2) Dpharma - TP 7.50

Keyman188 foresee a lot of traders & investors will surprised by this 2 core pharmaceutical firms which dealing with Covid-19 vaccine will be reaching unprecedented level :-

1) Pharma - TP 10.00

2) Dpharma - TP 7.50

I foresee a lot of traders & investors will drop their eye by this 2 core pharmaceutical firms which dealing with Covid-19 vaccine will be reaching unprecedented level :-

1) Pharma - TP 10.00

2) Dpharma - TP 7.50

I foresee a lot of traders & investors will drop their eye by this 2 core pharmaceutical firms which dealing with Covid-19 vaccine will be reaching unprecedented level :-

1) Pharma - TP 10.00

2) Dpharma - TP 7.50

Theme parks to resume operations starting July 1 — Ismail Sabri

June 29, 2020 17:06 pm +08

PUTRAJAYA (June 29): The Special Ministerial Meeting on the implementation of the movement control order (MCO) today announced more flexibility, including allowing theme parks to reopen from July 1.

Also it was decided that body temperature screening would only be conducted once and not multiple times at shopping malls.

Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob said it will involve 54 theme parks including water theme parks and a workforce of more than 10,000 nationwide.

In line with today's decision, visitors to shopping malls will now only have to record their temperature once at the main entrance, and not at every store in the mall.

However, operators of all theme parks and shopping malls must adhere to the Standard Operating Procedures (SOPs) such as social distancing at all times.

“For theme parks, the limit of visitors allowed to enter depends on the capacity and size of the theme park. Visitors also have to register with MySejahtera and undergo body temperature checks and hand sanitisation,” he said in his daily media briefing today.


##https://www.theedgemarkets.com/article/theme-parks-resume-operations-starting-july-1-%E2%80%94-ismail-sabri

Theme parks to resume operations starting July 1 — Ismail Sabri

June 29, 2020 17:06 pm +08

PUTRAJAYA (June 29): The Special Ministerial Meeting on the implementation of the movement control order (MCO) today announced more flexibility, including allowing theme parks to reopen from July 1.

Also it was decided that body temperature screening would only be conducted once and not multiple times at shopping malls.

Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob said it will involve 54 theme parks including water theme parks and a workforce of more than 10,000 nationwide.

In line with today's decision, visitors to shopping malls will now only have to record their temperature once at the main entrance, and not at every store in the mall.

However, operators of all theme parks and shopping malls must adhere to the Standard Operating Procedures (SOPs) such as social distancing at all times.

“For theme parks, the limit of visitors allowed to enter depends on the capacity and size of the theme park. Visitors also have to register with MySejahtera and undergo body temperature checks and hand sanitisation,” he said in his daily media briefing today.


##https://www.theedgemarkets.com/article/theme-parks-resume-operations-starting-july-1-%E2%80%94-ismail-sabri

Malaysia's exports post double-digit fall for two straight months

(theedgemarkets.com / June 29, 2020 12:42 pm +08)

KUALA LUMPUR (June 29): Malaysia's exports posted a double-digit fall for two straight months through May no thanks to the Covid-19 pandemic.

The country's exports slumped 25.5% to RM62.7 billion in May 2020 from a year earlier, the Department of Statistics Malaysia (DOSM) said today. This is the second consecutive month that the export number has dropped in double-digit figures. In the month of April, the export figure plunged 23.8% year-on-year (y-o-y) to RM64.9 billion.

In a statement today, DOSM said the country's imports dived 30% y-o-y to RM52.3 billion, the largest decline since January 2009.

DOSM said the decrease in exports was attributed by lower exports to India (-RM3.2 billion), Singapore (-RM2.5 billion), Thailand (-RM2.1 billion), Japan (-RM2 billion) and the European Union (-RM1.9 billion).

The main products which contributed to the decline in exports were electrical and electronic products (-RM5.8 billion), petroleum products (-RM2.9 billion), crude petroleum (-RM1.7 billion), manufacture of metal (-RM1.4 billion), chemical and chemical products (-RM1.2 billion), and machinery, equipment and parts (-RM1.1 billion).

Meanwhile, decreases in imports were noted for petroleum products (-RM5.1 billion), chemical and chemical products (-RM2.6 billion), transport equipment (-RM2.4 billion), machinery, equipment and parts (-RM1.9 billion) and crude petroleum (-RM1.8 billion).

Lower imports were mainly from China (-RM3.3 billion), Singapore (-RM3.1 billion), the European Union (-RM2.3 billion), Thailand (-RM2.1 billion) and Indonesia (-RM1.4 billion).

The decrease in imports by end use was attributed by intermediate goods, capital goods and consumption goods. Imports of intermediate goods were lower by 27.8% or RM11.9 billion to RM30.8 billion. Capital goods stood at RM6.7 billion, decreasing 27.8% or RM2.6 billion while consumption goods declined 21.9% (-RM1.5 billion) to RM5.2 billion.


##https://www.theedgemarkets.com/article/malaysias-exports-post-doubledigit-fall-two-straight-months-0

honestly speaking...

Keyman188 very pity (kesian) for those late comers......

In fact for those old players already knew coming for perfect storm & left ready since earlier June or some last month......

Foreign selling of local equity widened to RM624.7m last week — MIDF Research

(theedgemarkets.com / June 29, 2020 09:59 am +08)

KUALA LUMPUR (June 29): Foreign investors offloaded Malaysian equity to the tune of RM624.7 million last week, from RM600.8 million the prior week.

In his weekly fund flow report today, MIDF Research's Khoo Zhen Ye said that so far in 2020, foreign investors have sold RM16.4 billion net on Bursa.

"In comparison with the other six Asian markets we track, Malaysia still has the fourth smallest foreign net outflow on a year-to-date basis.

"As markets reopened on Monday last week, international investors took out RM133.8 million net of local equities, which was a similar trend for all Southeast Asian markets on fear of a resurgence of Covid-19 outbreak that could drag the economic recovery for a longer period," he said.

Nonetheless, Khoo said the local bourse managed to close slightly higher by about 0.3% to 1,511.2 points on the same day.

"Note that the foreign net outflow occurred on every day last week.

"The foreign net selling continued to increase the next day on Tuesday at a tune of RM146.9 million before starting to subside on Wednesday and Thursday with the lowest foreign net outflow of the week [recorded] on Thursday at a tune of RM74.7 million," he said.

Nonetheless, he said foreign net selling activity rose to RM159.7 million last Friday, which was also the highest foreign net outflow recorded last week.

Khoo said investors' appetite was negatively affected by the downgrading of Malaysia's economic growth by the World Bank to -3.1% from -0.1% for 2020 announced last Thursday.

"The KLCI Index closed lower by about 1.3% to 1,488.1 points last week.

"In comparison with another three Southeast Asian markets that we track, Malaysia recorded the second lowest foreign net outflow and the Philippines had the lowest foreign net outflow last week," he said.

Khoo said while Thailand and Indonesia posted relatively higher foreign net outflows, foreign investors seemed to ease their selling last week compared with the preceding week.

"In terms of participation, all investor groups recorded a weekly decline in their average daily traded value (ADTV).

"Foreign investors experienced the largest weekly decline in their ADTV by 45.5% to reach RM880.4 million, which was below the healthy level of RM1 billion," he said.


##https://www.theedgemarkets.com/article/foreign-selling-local-equity-widened-rm6247m-last-week-%E2%80%94-midf-research

Here are the key questions for the stock market heading into the second half of the year

PUBLISHED SAT, JUN 27 20208:47 AM EDTUPDATED SAT, JUN 27 20209:32 AM EDT

~ In a normal year, the S&P 500 being down 6% halfway through would have investors asking, “What went wrong?” rather than “Why isn’t it down a lot more?”

~ Key questions for the second half include how much more can be expected of the expensive growth-stock goliaths in pushing the indexes forward as investors wait for the recovery to gain traction?

~ The powerful March-June rally ticked several of the boxes for those who try to certify important, durable market lows and recoveries.

~ But investors are still worried and maintain cash levels twice the long-term average, according to Citi.


Halftime of the year 2020 is nearly here, and the bulls are tired after mounting a furious comeback to narrow what was a deep deficit after the first quarter.

Fatigue was to be expected after the best 11-week sprint in market history, a gain of 44% in the S&P 500 from March 23 through June 8. And under normal circumstances, stocks giving back one-sixth of a headlong rally, as the index has the past three weeks, would be viewed as utterly routine. And, chances are, it is a routine if uneasy pullback.

But very little about this year has been typical, even if some of the rhythms are familiar. In a normal year, the S&P 500 being down 6% halfway through would have investors asking, “What went wrong?” rather than “Why isn’t it down a lot more?” And in fact it’s not too common for the market to be sitting on such losses near midyear.

Here is the 2020 course of the S&P 500 against the path from the only three years of the past 16 in a similar spot at this point: One year when a grinding bear market turned catastrophic (2008); the next year (2009) when a powerful new bull market began after a climactic March bottom; and a third (2010) when worries about a weak recovery and debt indigestion caused the first gut check of what would become a decade-long uptrend.

Of course, the trajectory of the Covid pandemic and consumer and business adaptations to it will be the main headline driver of how markets act from here.

Key questions for the second half

But in more market-specific terms, the way things go in the coming months comes down to a few key questions:

- Can this market continue acting like an early (or thoroughly renewed) bull phase, with broad strength, cyclical-stock leadership and an ability to look through near-term economic struggle?

- How much more can be expected of the expensive growth-stock goliaths in pushing the indexes forward as investors wait for the recovery to gain traction?

- Is there still enough cash and caution lying about the market to buffer the downside and serve as fuel for rally-chasing in coming months?

The powerful March-June rally ticked several of the boxes for those who try to certify important, durable market lows and recoveries. The persistence of the price gains, the amount of losses recouped in a brief time and the rare breadth of the stocks showing extreme momentum had technical strategists calling it an early bull market. The forward returns after the kind of upward lunge we saw into June are, historically, strong over the subsequent six to 12 months, but in the nearer term often lead to retrenchment and choppiness.

Over the past three weeks, the median stock in the market is down some 12% and the core service-sector-revival plays in airlines, hotels, casinos and retailers are off 20% or more from early-June highs as investors have been forced to rethink assumptions for a strong, linear restart of the economy once the Street’s “free pass” neared expiration.

For most of June, cyclically geared sectors have fallen back while defensive growth stocks held things together. And one issue with the idea of a new bull market is, no valuation excesses were wrung out of equities. Truthfully, it was more an event-driven crash mitigated by an overwhelming and rapid policy rescue. Stocks never for a moment got cheap, nor were balance sheets cleansed in any respect.

Right now, the median S&P 500 stock trades at 20-times forward earnings – pricey in the abstract, forgivable if the profit crash is brief, justifiable largely only in comparison with compressed corporate debt costs.

Which brings us to the question about what more can be requested of the mega-cap growth leaders, the five largest now nearly a quarter of the S&P 500. This group was not spared last week’s modest selloff, serial share-price-target increases by analysts on Apple and Amazon failing to generate fresh impetus for investors to commit new money into them aggressively. For now, at least.

Cont...


##https://www.cnbc.com/2020/06/27/here-are-the-key-questions-for-the-stock-market-heading-into-the-second-half-of-the-year.html

IMF warns disconnect in financial markets risks a correction in asset prices

PUBLISHED THU, JUN 25 20208:31 AM EDTUPDATED THU, JUN 25 202011:12 AM EDT

~ A correction is defined as a 10% or more decline in the price of an asset or index.

~ The IMF estimated earlier this week that the global economy would contract by 4.9% this year, before growing at a pace of 5.4% in 2021. Both estimates were downgraded from April’s forecast.


The International Monetary Fund has warned that the ongoing disconnect between financial markets and the real economy could lead to a correction in asset prices.

In recent months, equity markets have rallied despite troubling real-world events. The world is grappling with the coronavirus health emergency that has taken the lives of almost 500,000 people, according to John Hopkins University data, and threatens to cause an unprecedented economic crisis. In addition, there is social unrest in many advanced economies as citizens demand a more equal society, which could hit investor confidence.

Recent data indicates a deeper-than-expected downturn, the Fund added, but markets appear unfazed: the S&P 500 enjoyed its largest 50-day rally in history in early June.

“This disconnect between markets and the real economy raises the risk of another correction in risk asset prices should investor risk appetite fade, posing a threat to the recovery,” the IMF said Thursday in its updated Global Financial Stability report.

A correction is defined as a 10% or more decline in the price of an asset or index.

The Fund said that valuations currently looked stretched across many different markets.

“According to IMF staff models, the difference between market prices and fundamental valuations is near historic highs across most major advanced economy equity and bond markets, though the reverse is true for stocks in some emerging market economies,” it said.

Triggers for a shift in market sentiment could include a second wave of coronavirus infections, further social unrest, changes to monetary policy and a resurgence in trade tensions, the Fund added.

Asset and fund managers

There is a risk that “nonbank” financial companies — such as asset and fund managers — could also face shocks in the event of a broad wave of insolvencies. The IMF warned that these businesses could even act as an amplifier of this stress.

“For example, a substantial shock to asset prices could lead to further outflows from investment funds, which could, in turn, trigger fire sales from those fund managers that would exacerbate market pressures,” the Fund said.

The IMF estimated earlier this week that the global economy would contract by 4.9% this year, before growing at a pace of 5.4% in 2021. Both estimates were downgraded from April’s forecast.

“There is tremendous uncertainty,” Gita Gopinath, the IMF’s chief economist told CNBC’s Squawk on the Street Wednesday.

She added that “substantial support will need to be continued,” but its form will depend on how the recovery goes.

Governments and central banks around the world have launched large stimulus programs in an effort to keep economies afloat. In the euro zone, for instance, the European Central Bank is buying government bonds as part of a 1.35 trillion euros ($1.5 billion) emergency program to keep borrowing costs low for euro zone governments. Meanwhile,

The IMF also warned that corporate debt had risen over several years and currently stands at a “historically high level relative to GDP (gross domestic product).” This, coupled with household debt, which has also grown over the last years, is another vulnerability in the financial sector and could have a broader impact in the ongoing economic crisis.

“High levels of debt may become unmanageable for some borrowers, and the losses resulting from insolvencies could test bank resilience in some countries,” the IMF said.


##https://www.cnbc.com/2020/06/25/imf-global-financial-stability-markets-disconnect-risks-a-correction.html

Dow drops 700 points to end the week as coronavirus spike raises concern over the economy

Published Thu, Jun 25 20206:01 PM EDTUpdated Fri, Jun 26 20204:27 PM EDT

Stocks fell sharply on Friday after Texas rolled back some of its reopening measures, raising concern about the latest spike in coronavirus cases and its impact on the economy.

The Dow Jones Industrial Average closed 730.05 points lower, or 2.8%, at 25,015.55. The S&P 500 slid 2.4% to 3,009.05 and the Nasdaq Composite dropped 2.6% to close at 9,757.22.

Those losses led to the major averages’ second weekly drop in three weeks. The Dow and S&P 500 fell 3.3% and 2.9%, respectively, for the week and the Nasdaq lost 1.9% in that time period.

“Coronavirus cases are spiking and reopenings are being delayed, which at a minimum will impact earnings,” said Tom Essaye, founder of The Sevens Report. “The resurgence in coronavirus cases is raising concerns that the rebound may be short-lived as voluntary or potentially more government mandated economic shutdowns are becoming increasingly likely.”

Texas ordered all bars and establishments that receive more than 51% of their gross receipts from alcoholic beverages to shut down operations. Restaurants, meanwhile, must limit on-premise dining to less than 50% indoor capacity. “At this time, it is clear that the rise in cases is largely driven by certain types of activities, including Texans congregating in bars,” Texas Gov. Greg Abbott said.

Florida also announced it would suspend “on premises consumption” of alcohol at bars in the state after reporting a surge of nearly 9,000 new virus cases. In Arizona, the number of cases jumped by 5.4%, topping a seven-day average of 2.9%. At a nationwide level, the daily average number of confirmed coronavirus cases is now more than 33,000.

Shares of companies that would benefit from an economic reopening tumbled. United Airlines, American and Delta all slid more than 3%. Cruise operator Norwegian Cruise line dropped 5%.

Jon Hill, rates strategist at BMO, said virus fears are making investors rethink positions ahead of the weekend, which is similar to the trading action seen in March and April. This is favorable for bonds and negative for stocks, as investors worry the economy may not rebound as sharply as expected. “It’s very possible some of the optimism we saw in the datas could pull back hard in July and August.”

The U.S. 5-year Treasury yield dropped to a record low of 0.29%. The 3-year rate also slid to an all-time low of 0.17%. Yields move inversely to prices.

Banks under pressure after Fed stress test

The Federal Reserve’s annual stress test of the major banks showed some banks could get close to minimum capital levels in scenarios related to the coronavirus pandemic.

Because of this, banks must suspend share repurchase programs and cap dividend payments at current levels for the third quarter. Wells Fargo and Capital One may be forced to cut their dividends, according to a Morgan Stanley analyst.

“While I expect banks will continue to manage their capital actions and liquidity risk prudently, and in support of the real economy, there is material uncertainty about the trajectory for the economic recovery,” Fed Vice Chair Randall Quarles said in a statement.

The announcement sent some bank shares lower on Friday. Bank of America and JPMorgan Chase both fell more than 5%. Wells Fargo slid 7.4% and Goldman Sachs fell 8.7%.

Meanwhile, Nike shares slid 7.6% on the back of a surprising quarterly loss for the apparel giant. The company reported a loss of 51 cents per share and revenue of $6.31 billion for its fiscal fourth quarter. Nike’s quarterly revenue reflected a drop of 38% on a year-over-year basis.

The losses on Friday came despite a record rise in consumer spending in May. The Commerce Department reported Friday that spending increased 8.2% last month, a positive sign for the U.S. economy amid a growing number of negative coronavirus headlines.

The government’s report on how much Americans spent on goods and services in May was the largest one-month gain dating back to records beginning in 1959. Consumer spending represents more than two-thirds of economic demand in the U.S.

Correction: This story has been updated to reflect the S&P 500 dropped 2.4% on Friday.


##https://www.cnbc.com/2020/06/25/stock-market-futures-open-to-close-news.html

~ KLCI already rebounded from low of 1207 to 1590 (+383 pt) by more than 80 days


~ Overall market valuation shot up by about 19 ~ 20 times


~ S&P500 already surpassed 76.40% retracement & very high possibility heading 10% ~ 15% correction


~ Geopolitical Tensions among country, ie US-China Trade War (1st phase uncertainty), China and India fighting over an inhospitable strip of the Himalayas


~ Covid-19 spike raises concern over the economy & impact corporate earnings


~ Malaysia’s political uncertainty seen keeping country stuck for economy recovery


~ Corporate earning unable justifiable for the period April ~ June'20 due to MCO enforcement

OMG...really break 14.80 !!!.........

Next week more selling pressure since IDSS going to uplift by next week.......

"Big Players" already standby this game again...

Yes..IDSS going to uplift by next week...No more extension...

Warren Buffett’s Berkshire swings to massive $50 billion net loss after coronavirus pummels stock investments

Published Sat, May 2 20208:27 AM EDTUpdated Sat, May 2 202012:57 PM EDT

~ Berkshire’s first-quarter net loss totaled $49.75 billion.

~ A year earlier, net earnings totaled $21.66 billion, or $13,209 per share.

~ Quarterly operating profit, which Buffett considers a better performance measure, rose 6% to $5.87 billion.


##https://www.cnbc.com/2020/05/02/warren-buffetts-berkshire-posts-record-net-loss-of-nearly-50-billion-on-coronavirus.html



^^^Mr.Warren Buffett' philosophy can't be used for this time....1st ever incurred heavy losses............

Warren Buffett’s Berkshire swings to massive $50 billion net loss after coronavirus pummels stock investments

Published Sat, May 2 20208:27 AM EDTUpdated Sat, May 2 202012:57 PM EDT

~ Berkshire’s first-quarter net loss totaled $49.75 billion.

~ A year earlier, net earnings totaled $21.66 billion, or $13,209 per share.

~ Quarterly operating profit, which Buffett considers a better performance measure, rose 6% to $5.87 billion.


##https://www.cnbc.com/2020/05/02/warren-buffetts-berkshire-posts-record-net-loss-of-nearly-50-billion-on-coronavirus.html



^^^Mr.Warren Buffett' philosophy can't be used for this time....1st ever incurred heavy losses in his life............

Macam ini pattern....Next week definitely very very ugly......

Hard to make decision now !!!......

Dow futures down nearly 200 points after bank stress test results, Nike reports surprise loss

PUBLISHED THU, JUN 25 20206:01 PM EDTUPDATED 17 MIN AGO

U.S. stock futures were lower in early morning trade on Friday following the release of the Fed’s latest bank stress-test results and disappointing quarterly numbers out of Nike.

Dow Jones Industrial Average futures were down 173 points, while S&P 500 and Nasdaq-100 futures also traded in negative territory.

The moves came after the Fed’s annual stress test of the major banks showed some banks could get close to minimum capital levels in scenarios related to the coronavirus pandemic. Because of this, banks must suspend share repurchase programs and keep dividend payments at current levels for the third quarter.

“While I expect banks will continue to manage their capital actions and liquidity risk prudently, and in support of the real economy, there is material uncertainty about the trajectory for the economic recovery,” Fed Vice Chair Randall Quarles said in a statement.

The announcement sent some bank shares lower in after-hours trading. Bank of America and JPMorgan Chase both dipped more than 1.8%. Wells Fargo slid 3% and Goldman Sachs fell 3.4%. Bank stocks were coming off sharp gains, rallying more than 3% during regular trading Thursday.

Meanwhile, Nike shares slid nearly 4% after the bell on the back of a surprising quarterly loss for the apparel giant.

The company reported a loss of 51 cents per share and revenue of $6.31 billion for the its fiscal fourth quarter. Nike’s quarterly revenue reflected a drop of 38% on a year-over-year basis.

Wall Street was coming off strong gains after a late-day surge helped the major averages recover some of the steep losses from Wednesday’s session. The Dow jumped nearly 300 points Thursday while the S&P 500 and Nasdaq Composite each closed higher by 1.1%.

The major averages, however, struggled for direction for most of Thursday’s session as the number of coronavirus cases keeps rising in certain states. Florida reported just over 5,000 additional cases. Arizona’s cases jumped by 5.1%, topping a seven-day average of 2.3%. Texas Gov. Greg Abbott said the state would pause its reopening plans given the recent spike in cases and hospitalizations.


##https://www.cnbc.com/2020/06/25/stock-market-futures-open-to-close-news.html

OMG...today market really no more stem to rebound...


Bursa Malaysia market sentiment still extremely weak...


Another 2 more day, IDSS will be uplifted......


Very vulnerable market coming soon...........


As Keyman188 highlighted morning, afternoon session more selling pressure........

OMG...Finally today break 15.00 again liao......

Keyman188 always like to repeat...repeat & repeat again to avoid forgotten...


---------------------------------------------------------------------------------------------------


Keyman188 don't know far far calculation...

Just take 1 quarter PE comparison enough based on 26/06/20 morning session closing price...

TopGlove : RM 15.12 / 13.59 sen = 111 times

Harta : RM 11.96 / 3.43 sen = 349 times

Kossan : RM 8.05 / 5.07 sen = 159 times

Supermx : RM 7.01 / 5.42 sen = 129 times



Keyman188 don't know far far calculation...

Just take latest Price-to-book ratio (P/B ratio) based on 26/06/20 morning session closing price for further comparison enough...

TopGlove : RM 15.12 / RM 1.29 = 11.72 times

Harta : RM 11.96 / RM 0.75 = 15.74 times

Kossan : RM 8.05 / RM 1.16 = 6.94 times

Supermx : RM 7.01 / RM 0.92 = 7.62 times



...............^^^Really very hard to define competitive advantage among the peers !!!............



------------------别人笑我太疯癫... 我"说"他人看不清......--------------------------

OMG...IB start re-rating all glove sector for the long term...

OMG...a lot of show coming to the table......

Nowadays market very super duper confusing & confusion.......

Keyman188 smell something is not right now...

Really imposed heavy tax on "Big Profit" !!!......

OMG...today confirm can break below 15.00...

Very high possibility to retest 14.02 next week again...

If still can not support 14.00 definitely retest low to 13.20 ~ 13.50 range coming soon........

OMG...seem likely either today or next week Monday going to break below 15.00 again......


Bursa market sentiment really really very weak......Alert...Alert...

IMF warns disconnect in financial markets risks a correction in asset prices

PUBLISHED THU, JUN 25 20208:31 AM EDTUPDATED THU, JUN 25 202011:12 AM EDT

~ A correction is defined as a 10% or more decline in the price of an asset or index.

~ The IMF estimated earlier this week that the global economy would contract by 4.9% this year, before growing at a pace of 5.4% in 2021. Both estimates were downgraded from April’s forecast.


The International Monetary Fund has warned that the ongoing disconnect between financial markets and the real economy could lead to a correction in asset prices.

In recent months, equity markets have rallied despite troubling real-world events. The world is grappling with the coronavirus health emergency that has taken the lives of almost 500,000 people, according to John Hopkins University data, and threatens to cause an unprecedented economic crisis. In addition, there is social unrest in many advanced economies as citizens demand a more equal society, which could hit investor confidence.

Recent data indicates a deeper-than-expected downturn, the Fund added, but markets appear unfazed: the S&P 500 enjoyed its largest 50-day rally in history in early June.

“This disconnect between markets and the real economy raises the risk of another correction in risk asset prices should investor risk appetite fade, posing a threat to the recovery,” the IMF said Thursday in its updated Global Financial Stability report.

A correction is defined as a 10% or more decline in the price of an asset or index.

The Fund said that valuations currently looked stretched across many different markets.

“According to IMF staff models, the difference between market prices and fundamental valuations is near historic highs across most major advanced economy equity and bond markets, though the reverse is true for stocks in some emerging market economies,” it said.

Triggers for a shift in market sentiment could include a second wave of coronavirus infections, further social unrest, changes to monetary policy and a resurgence in trade tensions, the Fund added.

Asset and fund managers

There is a risk that “nonbank” financial companies — such as asset and fund managers — could also face shocks in the event of a broad wave of insolvencies. The IMF warned that these businesses could even act as an amplifier of this stress.

“For example, a substantial shock to asset prices could lead to further outflows from investment funds, which could, in turn, trigger fire sales from those fund managers that would exacerbate market pressures,” the Fund said.

The IMF estimated earlier this week that the global economy would contract by 4.9% this year, before growing at a pace of 5.4% in 2021. Both estimates were downgraded from April’s forecast.

“There is tremendous uncertainty,” Gita Gopinath, the IMF’s chief economist told CNBC’s Squawk on the Street Wednesday.

She added that “substantial support will need to be continued,” but its form will depend on how the recovery goes.

Governments and central banks around the world have launched large stimulus programs in an effort to keep economies afloat. In the euro zone, for instance, the European Central Bank is buying government bonds as part of a 1.35 trillion euros ($1.5 billion) emergency program to keep borrowing costs low for euro zone governments. Meanwhile,

The IMF also warned that corporate debt had risen over several years and currently stands at a “historically high level relative to GDP (gross domestic product).” This, coupled with household debt, which has also grown over the last years, is another vulnerability in the financial sector and could have a broader impact in the ongoing economic crisis.

“High levels of debt may become unmanageable for some borrowers, and the losses resulting from insolvencies could test bank resilience in some countries,” the IMF said.


##https://www.cnbc.com/2020/06/25/imf-global-financial-stability-markets-disconnect-risks-a-correction.html

OMG...today market no more stem to rebound...


Bursa Malaysia market sentiment still extremely weak...


Another 2 more day, IDSS will be uplifted......


Very vulnerable market coming soon...........


Foresee afternoon session more selling pressure........

Share market always "Human Money Game".......

Not only "straight way" can cari makan......

So next time don't ask people call you sifu......

Too said to say...you still not qualified......kekeke...kekeke...

Too sad to say...Keyman188 always say no favour fast food...

Too great to say...Keyman188 still can cari makan to earn "Alaska Grab" yesterday even though market meltdown...

Keyman188 always say...If you not dare & afford to loss then better don't bet lorrr....

Life so simply.......kekeke...kekeke...

KLCI more & more downside risk due to IMF & World Bank had revised Malaysia economy will be contracted by 3.80% & 3.10% respectively in year 2020...


KLCI foresee more & more foreign fund will be withdrawing investment funds out from Malaysia...


Bursa Malaysia market sentiment still extremely weak...


Another 2 more day, IDSS will be uplifted......


Very vulnerable market coming soon...........

Keyman188 always like to repeat...repeat & repeat again to avoid forgotten...


---------------------------------------------------------------------------------------------------


Keyman188 don't know far far calculation...

Just take 1 quarter PE comparison enough based on 25/06/20 closing price...

TopGlove : RM 15.50 / 13.59 sen = 114 times

Harta : RM 12.10 / 3.43 sen = 353 times

Kossan : RM 8.14 / 5.07 sen = 161 times

Supermx : RM 7.11 / 5.42 sen = 131 times



Keyman188 don't know far far calculation...

Just take latest Price-to-book ratio (P/B ratio) based on 25/06/20 closing price for further comparison enough...

TopGlove : RM 15.50 / RM 1.29 = 12.02 times

Harta : RM 12.10 / RM 0.75 = 16.13 times

Kossan : RM 8.14 / RM 1.16 = 7.02 times

Supermx : RM 7.11 / RM 0.92 = 7.73 times



...............^^^Really very hard to define competitive advantage among the peers !!!............



------------------别人笑我太疯癫... 我"说"他人看不清......--------------------------

KLCI more & more downside risk due to IMF & World Bank had revised Malaysia economy will be contracted by 3.80% & 3.10% respectively in year 2020...

KLCI foresee more & more foreign fund will be withdrawing investment funds out from Malaysia...

World Bank projects Malaysia's economy to decline by 3.1% in 2020

(theedgemarkets.com / June 25, 2020 13:43 pm +08)

KUALA LUMPUR (June 25): The Malaysian economy is projected to contract by 3.1% in 2020, due to a sharp slowdown in economic activity caused by the Covid-19 pandemic and lockdown measures to contain its spread, according to the World Bank.

Malaysia's economic growth of 4.3% in 2019 was already the country's lowest level since the global financial crisis in 2009.

Note that the World Bank already revised down its Malaysia's 2020 gross domestic product (GDP) growth target to 4.5%, from 4.6%, back in December 2019 in its previous Malaysia Economic Monitor report.

However, the World Bank expects growth to resume in 2021 at 6.9% as the outbreak eases.

Most importantly, the World Bank pointed out that the crisis underscored the need for a more enhanced social protection system in order to protect individuals and households in Malaysia, especially among the bottom 40% income group (B40), the most vulnerable group to be hit the worst by the pandemic.

"Important social protection measures are needed to help vulnerable Malaysians survive the current economic storm and thrive in the new post-pandemic reality.

"Protecting livelihoods is important so that those who have lost their jobs and businesses are able to get back on their feet and contribute to Malaysia’s economic recovery,” said Firas Raad, World Bank Group's representative to Malaysia and country manager, during the launch of the Malaysia Economic Monitor — "Surviving the Storm" report today.

The World Bank report highlighted that the country's social protection system is facing challenges from the changing nature of work and a rapidly ageing population.

Although the coverage of social assistance is high across all income groups, especially among the B20, the World Bank argued that social assistance programmes in Malaysia had so far only had a modest impact on poverty reduction and promoting productive employment.

As such, the report recommended that in the near term, government efforts should focus on supporting relief and recovery efforts by deepening social assistance for lower-income households, improving the delivery of social protection programmes and promoting job recovery.

The World Bank said that as the recovery continues, further rounds of cash transfers will remain vitally important to mitigate acute financial strain among the most vulnerable groups in Malaysian society, and support domestic consumption and human capital development during a severe economic downturn.

Over the medium and long term, support for lower-income groups can be gradually expanded to ensure that Malaysia’s social protection system provides a minimum level of protection to all households and individuals in need, it added.

Nevertheless, the bank said Malaysia’s economy remains resilient and rests on strong fundamentals.

“Its diversified economic structure, sound financial system, effective public health response and proactive macroeconomic policy support suggest that Malaysia will be able to ride out the storm better than many other countries,” it said.


##https://www.theedgemarkets.com/article/world-bank-projects-malaysias-economy-contract-31-2020

OMG...Finally KLCI closing below 1490 level......

Bursa Malaysia market sentiment still extremely weak...

Another 3 more day, IDSS will be uplifted......

Very vulnerable market coming soon...........

IMF revises Malaysia 2020 GDP forecast to 3.8% contraction

(theedgemarkets.com / June 25, 2020 11:18 am +08)

KUALA LUMPUR (June 25): The International Monetary Fund (IMF) has revised its Malaysia 2020 gross domestic product (GDP) forecast to a 3.8% year-on-year (y-o-y) contraction from the previously estimated 1.7% contraction as the Covid-19 pandemic has had a more negative impact on global activity in the first half of 2020 (1H20) than anticipated.

The IMF said in its June 2020 World Economic Outlook Update report that global economic recovery is projected to be more gradual than previously forecast.

"Global growth is projected at -4.9% in 2020, 1.9 percentage points below the April 2020 World Economic Outlook forecast. For 2021, global growth is projected at 5.4%. Overall, this would leave 2021 GDP some 6½ percentage points lower than in the pre-Covid-19 projection in January 2020.

"The adverse impact on low-income households is particularly acute, imperilling the significant progress made in reducing extreme poverty in the world since the 1990s,” the IMF said.

Malaysia’s 2019 GDP grew 4.3% from a year earlier, while first quarter of 2020 (1Q20) GDP expanded 0.7%, according to Bank Negara Malaysia (BNM) and the Department of Statistics Malaysia (DOSM).

For 1Q20, BNM said in a statement on May 13, 2020 that on a quarter-on-quarter seasonally-adjusted basis, the economy contracted 2% during the quarter.

"The global and Malaysian economic outlook for 2020 will be significantly impacted by the Covid-19 pandemic as strict measures to contain the spread of the pandemic will weigh considerably on both external demand and domestic growth. The Malaysian economy is expected to contract in the second quarter. This reflects the longer duration of containment measures both globally and domestically.

"When these containment measures are eased and the domestic MCO (movement control order) is lifted, economic activity is expected to gradually improve in 2H20. The sizeable fiscal, monetary and financial measures and progress in transport-related public infrastructure projects will provide further support to growth in 2H20. In line with the projected improvement in global growth, the Malaysian economy is expected to register a positive recovery in 2021,” BNM said.


##https://www.theedgemarkets.com/article/imf-revises-malaysia-2020-gdp-forecast-38-contraction

OMG...Finally KLCI break below 1490 level......

Bursa Malaysia market sentiment still extremely weak...

Another 3 more day, IDSS will be uplifted......

Very vulnerable market coming soon...........

Dow drops more than 700 points in worst day since June 11 as virus resurgence concerns grow

PUBLISHED TUE, JUN 23 20206:04 PM EDTUPDATED 4 HOURS AGO

Stocks fell sharply on Wednesday as the increasing number of newly confirmed coronavirus cases dampened expectations of an economic recovery.

The Dow Jones Industrial Average dropped 710.16 points, or 2.7%, to 25,445.94. The S&P 500 closed 2.6% lower at 3,050.33 while the Nasdaq Composite slid 2.2% to 9,909.17. The tech-heavy Nasdaq posted its first daily decline in nine sessions. It was the worst day for the Dow, S&P 500 and Nasdaq since June 11.

Florida said its confirmed cases jumped by 5,508 on Tuesday, a record, and now total 109,014. The state also said its positivity rate rose to 15.91% from 10.82%. Stocks fell to their session lows after Florida reported its latest case figures. At one point, the Dow had fallen more than 800 points on Wednesday.

California is one of the states that has also seen a dramatic spike in cases, adding a record of more than 7,000 in one day on Tuesday. In Texas, the Covid-19 number of Covid-19 cases jumped by 5,489. Meanwhile, New York, New Jersey and Connecticut ordered visitors from certain hotspot states to quarantine for 14 days.

“The latest coronavirus news is not positive for the stock market which was betting the worst of the pandemic recession was behind us,” said Chris Rupkey, chief financial economist at MUFG. “All the hopes of investors looking for a better economy to improve the bottom lines of companies shut down in the recession have been dashed. Forget about the fears of the virus coming back in the fall, the number of new cases and hospitalizations in states like Arizona, Texas, and Florida says the threat is happening right now.”

Shares of companies primed to benefit from the economy reopening faltered. United Airlines fell 8.3%. Delta, American and Southwest all slid over 7%. Airlines were especially hit by the quarantine orders issued by New York, New Jersey and Connecticut.

“It’s definitely the reason for the last leg down. Airline stocks and transports are down, and oil tanked,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “The regional quarantine sparked concerns about a dampening of activity as the economy in the region is just reopening.”

Carnival, Norwegian Cruise Line and Royal Caribbean were lower by 11.1%, 12.4% and 11.3%, respectively. Retailer Gap also fell 7.8%. Disney, meanwhile, declined by 3.9% after its Orlando theme-park workers petitioned to postpone the reopening amid the spike in cases in Florida.

The “market is going down on this...bottom line,” Evercore ISI strategist Dennis DeBusschere wrote in an email. It “brings up the question: What will California do? They have had consistent case growth and never really opened up.”

Masks and social distancing, which had been enforced to varying degrees across the country in recent week, “will become the norm nationally,” the strategist wrote.

He added that the Covid numbers also have implications for politics and policy that the market may not like. Specifically, DeBusschere argued that the infection spike weighs against President Trump’s odds of reelection and reinforce the case for even more fiscal stimulus from Congress.

Wednesday’s sell-off in equities led investors into traditional safe havens such as gold and Treasurys. Gold prices hit their highest levels in nearly eight years, before retreating. The 10-year Treasury note yield fell to 0.68%. To be sure, the drop in stocks would feel even more significant if it occurred any other year, but in 2020, volatility is the norm. The 2.7% drop by the Dow was just its 16th worst drop this year.

“Markets pause with all eyes on the virus and the reopening heading into the summer months,” said Gregory Faranello, head of U.S. rates trading at AmeriVet Securities, in a note. The health side is back front and center as both monetary and fiscal liquidity has been factored in short-term. We have entered a new phase of this crisis.”

Oil prices fell more than 5.6% to settle back below $40 per barrel.

Wall Street was coming off a banner day, with the Nasdaq Composite posting its 21st closing record for 2020 on Tuesday. The Nasdaq’s gain on Tuesday also represented its eighth straight day of gains, its longest winning streak since December, when it advanced for 11 straight sessions.


##https://www.cnbc.com/2020/06/23/stock-market-futures-open-to-close-news.html