My Writings. My Thoughts.

Thursday June 11, 2020

// June 11th, 2020 // Comments Off on Thursday June 11, 2020 // Daily News

Dow plunges 1,000 points, heads for worst day since April as airlines and retailers drop

Stocks fell sharply on Thursday as coronavirus cases increased in some states that are reopening up from lockdowns. Shares that have surged recently on hopes for a smooth reopening of the economy led the declines.

The Dow Jones Industrial Average traded 1,007 points lower, or 3.8%. The S&P 500 slid 3.1% while the Nasdaq Composite dropped 2.2%. Thursday’s losses put the Dow on pace for its first three-day losing streak in a month and for its biggest one-day drop since April 1. The S&P 500 was also headed for its longest losing streak since early March.

Shares of United Airlines, Delta, American and Southwest all dropped more than 7%. Carnival Corp. and Norwegian Cruise Line shares fell more than 12%. Gap and Kohl’s shares traded lower by 6.8% and 9%, respectively.

Netflix and Zoom Video — two stocks that have benefited from consumers staying at home during the pandemic — rose 1.8% and 3.4%, respectively, clawing back earlier losses.

Concerns about a second wave of coronavirus cases have risen as U.S. states push deeper into reopening. Texas has reported three consecutive days of record-breaking Covid-19 hospitalizations. Nine California counties are reporting a spike in new coronavirus cases or hospitalizations of confirmed cases, AP reported Wednesday.

Friendly monetary policy from the Federal Reserve cannot “offset a severe COVID second wave,” said Dennis DeBusschere, macro research analyst with Evercore ISI, in a note. “With TX, AZ, CA new cases and hospitalizations increasing and investors concerned that recent protest will fuel a wave of infections, the risk of persistently weak economic and earnings growth has increased. S&P fair value estimates are falling as a result.”

To be sure, former FDA Commissioner Scott Gottlieb said states such as Arizona and Texas “never really got rid of the first wave.” He added: “It’s not a second wave.”

Overall coronavirus cases in the U.S. topped 2 million, according to the latest figures from Johns Hopkins University.

The downdraft followed two straight days of losses for the 30-stock Dow and S&P 500 as investors ditched reopening trades for the megacap tech names. The tech-heavy Nasdaq, however, jumped to a record high on Wednesday and closed above 10,000 for the first time.

Today’s Inspiration

Shake It Off

No matter what you do in life, there will always be someone who criticizes you, so you need to learn how to let it go and not let it bother you. Criticism is very difficult for most of us, and it’s easy for our self-image to be damaged by one critical remark. But it is possible to learn how not to let ourselves be negatively affected by others’ negative words. Every great man or woman has had to learn how to cope with criticism. We have to know our own hearts and not allow others’ judgment of us to keep us from moving forward.

People love you when you’re doing everything they want you to do, but they’re quick to criticize when even one little thing goes wrong. The apostle Paul experienced criticism about countless things, but he said that he wasn’t the least bit concerned about the opinions of others. He said that he did not even judge himself, but he knew he was in God’s hands and that in the end he would stand before God, and only He would judge his life.

Prayer Starter: Jesus, when criticism comes, please help me remember that You’re my only judge, and I don’t need to live to please people. Thank You for healing my hurts and giving me grace to let them go. In Jesus’ Name, amen.

Tuesday June 9, 2020

// June 9th, 2020 // Comments Off on Tuesday June 9, 2020 // Daily News

Dow snaps 6-day winning streak, but tech stocks lift Nasdaq Composite to record 10,000 level

The Nasdaq Composite rallied to a record high on Tuesday, briefly breaking above 10,000 for the first time, as traders loaded up on major technology names while taking profits from stocks that benefit from the economy reopening.

The tech-heavy Nasdaq rose 0.29% to finish the day at a record close of 9,953.75, below its all-time intraday high north of 10,000 it hit earlier in the day. Amazon and Apple gained 3% and 3.1%, respectively, with each notching all-time highs during the session. Facebook advanced 3.1% higher and Netflix rose 3.47%. Google-parent Alphabet added 0.28%.

Meanwhile, the 30-stock Dow Jones Industrial Average slid 300.14 points, or 1.09%, and snapped its six-session winning streak to close at 27,272.30. The S&P 500 dropped 0.78% to 3,207.18.

 

Today’s Inspiration

From the Inside Out

Our society places so much importance on the way things look that appearances often take priority over true quality. One time I saw some big, perfect-looking oranges at the grocery store and decided to buy one. I was sure the orange would taste as good as it looked, but when I peeled that beautiful thing and took a bite, it was dry and bitter.

Taking time to consider whether you’re as good on the inside as you look on the outside is a serious matter. Many people are searching for God today, and there are countless teachings about how to find Him that sound right. That’s why when people are attracted to your fruit, you need to make sure it tastes as good as it looks. Only then will people see Jesus in you and realize He loves them, and that He is the one true God.

Prayer Starter: Father, please show me where I need to take inventory of the fruit in my life; help me fix anything inside that isn’t what it needs to be. Thank You for giving me grace to be authentic and genuinely like You, inside and out. In Jesus’ Name, amen.

 

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