• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

This Key Market’s Upsurge Shows How Fragile The Dow Jones Really Is

Yashu Gola by Yashu Gola
12 months ago
in Technical analysis
Reading Time: 2min read
dow, dow jones, bitcoin

Dow Jones Recovers but Remains Fragile Due to Healthy Risk-off Sentiment

Advertisement
Listen to Article

The Dow Jones Industrial Average (DJIA) opened in positive territory this Tuesday after plunging by 2.38 percent in the last two daily sessions.

The index bounced by 0.54 percent, or 153.4 points, shortly after the opening bell, its gains led by tech stocks. Apple and Intel both registered early-morning profits after rising 1.4 and 1.3 percent, respectively.

3M (MMM) plunged 4.1 percent after posting weaken-than-expected four-quarter data and revealing details of a restructural plan that would sack 1,500 employees. Dow also held back profits due to weaker performance of other top stocks, including United Technologies (UTX) and Pfizer (PFE).

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
dow jones, dow
Dow Jones rebounds to end a five-day losing streak | Source: FT

Cousins of the Coronavirus

The overall recovery for Dow came as investors assessed the events relating to the Coronavirus outbreak.

The escalating epidemic – which is now reported as “contained” – killed about 100 people and contaminated more than 3,000 across China, the US, South Korea, Singapore, Hong Kong, Canada, Singapore, and other countries.

Investors’ concerns were high on China undergoing a severe market downturn in the first quarter against the Coronavirus fears.

It would have left the global market outlook in distress, especially after posting uninterrupted price rallies since October.

The latest update on the virus somewhat reduced the fear of an outbreak. But it did not wade off concerns that were there before the epidemic came into the equation.

Financial Times reported that major indexes like Dow are full of “economically-sensitive” companies, which could negate this year’s risk-on mood.

The global stock market rally remains unexplainable, given the global growth data which has not accelerated in tandem. Mark McCormick at TD Securities cited their tracking model which shows about a 20 percent gap between the growth of MSCI World Equities and Global Purchasing Managers’ Indices.

Analysts at Morgan Stanley added that Dow, as well as S&P 500, fell as a part of a normal downside correction. As the market waits for the earning report of leading US companies, positive data, hopefully, will save the overall market rally.

Dow can further correct as the off-risk market spikes

The Wall Street Journal in its Tuesday report stated that the sudden downswings in Dow and other US indexes have sent investors looking for “safer assets.”

The theme of risk-aversion sent perceived safe-haven Gold 1.23 percent higher this month. That includes gains that came against the backdrop of this Friday’s underperformance of the Dow, the Nasdaq, and the S&P 500.

With Coronavorus fears easing, investors are likely to watch the outcome of FOMC’s monthly meeting on Wednesday. Experts believe that the Fed would likely to remain loose on monetary expansion.

The US central bank is running a pseudo-quantitative program by buying Treasury bills at a rate of $60 billion a month.

Expectations of a slowing down the program could have the Dow and others register a correction (Morgan Stanley thinks in a range of 5 percent). That shows why risk-off sentiment has grown higher over this month, which also saw an escalating geopolitical conflict between the US and Iran.

Even an offbeat asset like bitcoin has registered 22.45 percent gains against the same factors.

Tags: bitcoindowDow Jones
TweetShare18
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Ethereum (ETH)

Fractal Suggests Ethereum May Face Further Chop Before Seeing Parabolic Rally

48 seconds ago
Technicals Point To Extended Ethereum Dominance Over Bitcoin

Technicals Point To Extended Ethereum Dominance Over Bitcoin

1 hour ago
Bitcoin

Bullish Dumping: Bitcoin Sheds Thousands Off Price as Funding Rates Reset

5 hours ago
Chainlink (LINK)

Charted: Chainlink (LINK) Holding Uptrend Support, Why It Could Rally Again

14 hours ago
Ethereum

TA: Ethereum Corrects Lower, Why Dips In ETH Remain Attractive

16 hours ago
Bitcoin

TA: Bitcoin Signaling Further Correction, Why BTC Could Revisit $33K

17 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

NOWPayments Presents: Fiat Conversion

January 20, 2021

The Foundation for Economic Education Announces Two Major Gifts from Bitcoin.com Founder Roger Ver

January 19, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.