The number of non-agricultural employment in the United States reduce 700，000 In March, indicating that the damage of the Novel Coronavirus pneumonia to the U.S. economy was more serious than predicted.
Last week, the Dow fell down 360.91 points closed at 21052.53, the NASDAQ fell down 114.23 points closed at 7373.08, and the SP 500 fell down 38.25 points closed at 2488.65. Because of the Wall Street volatility caused by the Novel Coronavirus pneumonia, both the Dow and SP 500 fell down more than 25% from their highest point in February.
On Friday, Mohamed Erian, Allianz’s chief economic adviser, said:’ Because of the uncertainty of the Novel Coronavirus epidemic, the stock market has yet to reach the bottom. Unless the market is really down a lot, or there is good news on the medical side, the negative impact on the economy will continue.’
Technical analysis
DJ 30 Trading suggest
Make short positions at current price $21000
Target $20400
SP500 Trading suggest
Make short positions at current price $2480
Target $2300
Focus stocks
Apple (241.41, - 3.52, - 1.44%) was downgraded by Credit Suisse (7.74, - 0.15, - 1.90%). In addition, Morgan Stanley lowered Apple’s target price to $298.
Trading suggest
Make short positions at current price $241
Target $226
Amazon
Trading suggest
Make long positions at current price $1903
Target $1973